Bitcoin Steady at $68K as ETH, XRP, DOGE Hold Before U.S. Data Release
Bitcoin’s price is currently steady around $68,000, having faced resistance near the $70,000 mark. After nearly reaching $72,000, it retracted to the current range following several unsuccessful attempts to rebound. This stability comes after a significant correction that began in late January.
Bitcoin’s Recent Performance
In late January, Bitcoin peaked at approximately $90,000. However, within a week, it plummeted to around $60,000, marking a steep $30,000 drop in less than 200 hours. After the decline, Bitcoin managed to recover about $12,000 quickly but struggled to maintain momentum in the $71,000 to $72,000 range.
Current Market Statistics
- Current Bitcoin price: $69,500
- Price change: +0.35%
- Market capitalization: approximately $1.39 trillion
- Bitcoin dominance: nearly 57% over altcoins
- Total crypto market capitalization: around $2.36 trillion
- Total liquidations in the last 24 hours: $249.25 million
Institutional Investment Trends
Institutional interest remains strong, as Bitcoin ETFs recorded net inflows of $145 million recently, while Ethereum ETFs gained $57.05 million during the same period. These inflows occurred despite the overall market exhibiting limited price movement.
Other Cryptocurrencies
Ethereum is currently trading just above $2,000, experiencing a daily decline of about 1.5%. Other notable cryptocurrencies include:
- XRP: Trading near $1.41 with a decrease of 2.5%
- Solana: Priced around $84, down about 1%
- Dogecoin: Holding steady at approximately $0.093, slipping 1.6%
- TRON: Trading at $0.278, showing no significant movement
- BNB: Positioned just above $620, also down 1.2%
Conclusion
The cryptocurrency market is currently showing signs of stabilization, especially with Bitcoin maintaining its position around $68,000. The institutional investments in ETFs reflect a sustained interest, even as other altcoins navigate slight declines. Investors will be closely observing how the upcoming U.S. economic data may impact future price movements.
