Ethereum

Bitcoin

Sora

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/market-swings-as-bitcoin-and-ethereum-navigate-volatile-week" rel="noopener noreferrer nofollow">Market Swings as Bitcoin and Ethereum Navigate Volatile Week</a><br></p>
<p style="text-align: justify">The past week has seen a whirlwind of activity in the cryptocurrency space, with Bitcoin and Ethereum facing significant fluctuations. The leading crypto, Bitcoin, retreated to a value of $50,700, while Ethereum also experienced a dip, momentarily trading below $2,890. Despite these declines, the market has witnessed a subsequent rebound, challenging the notion of a long-term downtrend.</p>
<h2 id="sway-of-major-altcoins-and-nvidia-s-market-impact">Sway of Major Altcoins and Nvidia’s Market Impact</h2>
<p style="text-align: justify">Market momentum peaked early in the week but faced a downturn as traders cashed in profits, and anticipation grew over Nvidia’s financial disclosure. This led to a drop in value for several major alternative coins, with Polygon’s MATIC and others like Cardano’s ADA and Ripple’s <a href="https://en.bitcoinhaber.net/exploring-ripples-strategic-moves-and-legal-milestones" rel="noopener noreferrer nofollow">XRP</a> recording decreases of up to 7% and 5%, respectively.</p>
<p style="text-align: justify">Contrary to expectations of a subdued earnings announcement, Nvidia reported better-than-expected results, which spurred a rally in the market, particularly among AI-focused altcoins. This surge in investor interest followed the introduction of OpenAI’s Sora product, contributing to a record high for Worldcoin’s WLD and a combined market cap for AI altcoins exceeding $15 billion.</p>
<p style="text-align: justify">The market’s volatile price shifts triggered liquidations exceeding $200 million in futures, predominantly affecting long positions, as per CoinGlass data. Nonetheless, following Nvidia’s positive report, the market’s recovery has now skewed towards short position liquidations.</p>
<h2 id="bitcoin-s-position-as-a-market-stalwart">Bitcoin’s Position as a Market Stalwart</h2>
<p style="text-align: justify">Despite these turbulent times, Bitcoin has shown resilience, with FxPro’s senior market analyst, Alex Kuptsikevich, pointing out the lack of intense selling pressure as a promising sign. Meanwhile, Markus Thielen of 10x Research reflects on Bitcoin’s steadfast dominance in the market—currently at 51%—as a significant impediment to a burgeoning altcoin season, suggesting that Bitcoin’s influence would need to wane to below 45% for altcoins to truly flourish.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/market-swings-as-bitcoin-and-ethereum-navigate-volatile-week" rel="noopener noreferrer nofollow">Market Swings as Bitcoin and Ethereum Navigate Volatile Week</a></h5>

Market Swings as Bitcoin and Ethereum Navigate Volatile Week

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