Bitcoin

Momentum

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/crypto-market-swings-bitcoin-retreats-xrp-and-altcoins-follow" rel="noopener noreferrer nofollow">Crypto Market Swings: Bitcoin Retreats, XRP and Altcoins Follow</a><br></p>
<p style="text-align: justify">The cryptocurrency market has exhibited turbulent price activity with <a href="https://en.bitcoinhaber.net/bitcoin-gains-momentum-as-fed-chair-points-to-us-debt-concerns" rel="noopener noreferrer nofollow">Bitcoin</a> retreating from its recent peak. After momentarily eclipsing the $73,500 mark, Bitcoin witnessed a sharp decrease to $71,100 in response to the latest Producer Price Index data. This shift indicates the market’s reaction to economic indicators and underscores the inherent volatility associated with cryptocurrencies.</p>
<h2 id="ripple-s-xrp-sees-a-slight-downturn">Ripple’s XRP Sees a Slight Downturn</h2>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/ripples-xrp-experiences-surge-and-setback-in-market-transaction-frenzy" rel="noopener noreferrer nofollow">Ripple</a>‘s <a href="https://en.bitcoinhaber.net/ripples-surge-towards-the-1-resistance-amid-whale-activity" rel="noopener noreferrer nofollow">XRP</a>, which had a significant surge from $0.62 to $0.70, is currently experiencing a dip back to $0.067233, marking a 2.5% reduction. This pullback may be attributed to profit-taking by major investors. Concurrently, XRP’s market valuation has shrunk by nearly 1% to $36.8 billion, while its trade volume has decreased by 2.65% to $2.89 billion.</p>
<h2 id="gala-coin-s-momentum-fades">GALA Coin’s Momentum Fades</h2>
<p style="text-align: justify">Similarly, GALA, an altcoin that had previously garnered attention with a 51% ascent, now faces a 6.97% decline in value, settling at $0.066. The dip is mirrored in its market capitalization, now positioned at $1.96 billion, and a significant 40% drop in its 24-hour trading volume to $304 million, suggesting a waning of investor interest.</p>
<h2 id="algorand-s-algo-registers-a-dip">Algorand’s ALGO Registers a Dip</h2>
<p style="text-align: justify">In the same vein, ALGO is amongst the day’s depreciating assets, with a 5.43% decline in price, now trading at $0.307. This drop has also affected its market capitalization, which has dwindled to $2.47 billion. ALGO’s trading volume echoes the trend seen with GALA, plummeting by 45% to $189 million.</p>
<p style="text-align: justify">As the cryptocurrency market grapples with these fluctuations, particularly Bitcoin’s distance from its all-time high, there is speculation about a potential recovery and its potential impact on the performance of altcoins.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/crypto-market-swings-bitcoin-retreats-xrp-and-altcoins-follow" rel="noopener noreferrer nofollow">Crypto Market Swings: Bitcoin Retreats, XRP and Altcoins Follow</a></h5>

Crypto Market Swings: Bitcoin Retreats, XRP and Altcoins Follow

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