- Bitcoin sprinted to $92k but could withstand pressures and had to return to below $90k
- XRP has seen stable upward movement today. It was trading at $2.56, up 3.92%
- $PI, which had shown strong resilience and stability when others were bleeding, today shed 6.78% to trade at $1.78
Ahead of the first-ever White House crypto summit in the United States, the crypto market has tried to rebound after days of massive selloff and struggle. However, despite some positive sentiments, the markets struggled, and bulls failed to take strong hold of the market. This left the bears still in charge.
The struggle is visible in the price movement of the world’s largest crypto by market capitalization, Bitcoin, which sprinted to $92k but could withstand pressures and had to return to below $90k. This is also evident in the coin’s market cap. According to Coinmarketcap data, Bitcoin hovered around $90,195 at the time of writing, which was up 2.22% in the past day. Early in the trading day, the coin traded for $92,760. The market cap has increased to $1.78 trillion, up 2.06% in the past day. However, earlier in the day, it was much higher as it reached $1.839 trillion before plunging. On the other hand, Bitcoin has had an insane trading volume of $45 billion in the past day, but the volume was higher by 22% in the preceding day.
The struggle is not limited to Bitcoin; Ether, the second largest crypto, has had its share, too. At the time of writing, it was trading at $2,228, up 2.01% in the past day. Earlier in the day, it traded up to $2,315.
The market cap was $266.92 billion at the time of writing, up 1.05% in the past day. Earlier in the day, it was $279.2 billion. Interestingly, the volume of trade has been impressive, as enthusiasts were buying the dip. However, as signs of recovery showed today, the volume dropped by 28.31% to $17.89 billion compared to the preceding day’s numbers.
Conversely, XRP has seen stable upward movement today. It was trading at $2.56, up 3.92%. But it had already seen better rates today, hitting $2.62 earlier. The market cap has also been stable at $148.6 billion, up 3.88%, though it reached $152.5 billion earlier. The volume of trade has decreased by 13.84% to $6.42 billion, understandably due to the upward price movement.
Even $PI, which had shown strong resilience and stability when others were bleeding, today shed 6.78% to trade at $1.78 at the time of writing. The market cap has also dropped, shedding 5.92% to $12.6 billion, though still maintaining its 11th spot on the largest cryptocurrencies chart.
The White House crypto summit is scheduled for Friday, and President Donald Trump is expected to unveil the US crypto reserve strategy.
7 persons sentenced to 76 years in prison for stealing £100,000 in crypto
Meanwhile, TheRadar earlier reported that seven people have been sentenced to a combined 76 years in prison for assault, kidnapping and stealing some £100,000 in cryptocurrency from a single victim. A Manchester Crown court in the United Kingdom found them guilty and sentenced them.
The criminals started targeting the victim in January 2023. According to the police, on December 2, 2023, they received an anonymous call reporting concerns for welfare at a flat in Irlam.
