Downturn in the cryptocurrency market: Bitcoin retreats from the $80,000 mark
A downward trend has been observed in the cryptocurrency market over the last 24 hours. Bitcoin has depreciated to the $79,000 level.
Yulduz Salimov1 min read
A downward trend has been recorded in the cryptocurrency market over the last 24 hours. According to CoinMarketCap data, Bitcoin has fallen by 2.09% to $79,045.34. It is worth noting that yesterday, Bitcoin surpassed the $80,000 mark for the first time in over three months, reaching as high as $81,237.94.
Analysts view the $80,000–$82,000 range as a critical resistance zone for Bitcoin. The current decline is attributed to profit-taking following the rapid rally and a lack of new positive catalysts in the market.
Other leading cryptocurrencies have also seen a decline. Ethereum fell by 1.58% to $2,464.41, and BNB dropped by 2.87% to $695.99. A sharper decline was recorded in Zcash, with the price falling by 8.49% to $784.54. Bitcoin Cash lost 3.83% and Bittensor lost 3.20% of their value. Conversely, Monero rose by 0.37% to reach $442.81.
Gold-backed cryptocurrencies showed slight growth. PAX Gold (PAXG) rose by 0.24% to $4,640.88, and Tether Gold (XAUT) increased by 0.27% to $4,632.46.
Overall, the cryptocurrency market capitalization has decreased by 2.19% over the last 24 hours to $2.65 trillion.
Source: apa.az
