Cryptocurrency Market Update

The cryptocurrency market has seen significant fluctuations in the past week. After reaching all-time highs, bitcoin‘s price took a sharp downturn, causing concern among investors.

Following a brief recovery, bitcoin‘s price dropped again at the start of the current week. Factors such as outflows from spot bitcoin ETFs and uncertainty surrounding the FOMC meeting contributed to the downward trend.

Despite a temporary spike after the meeting, bitcoin‘s price continued to decline, facing four consecutive days of outflows. As of now, bitcoin struggles to stay above $63,000, marking a 7% decrease in the past week.

Other cryptocurrencies like ethereum, ADA, DOT, MATIC, and NEAR have also experienced significant declines in their prices over the past week.

Market Data

Market Cap: $2.52T | 24H Vol: $136B | BTC Dominance: 49.2%

BTC: $63,210 (-7.3%) | ETH: $3,305 (-10.5%) | BNB: $548 (-8.28%)

Cryptocurrency Market Overview Weekly. Source: Quantify Crypto

Crypto Headlines

Japan’s GPIF Pension Fund Eyes bitcoin: Japan’s largest pension fund is considering investing in bitcoin amidst market volatility.

Grayscale to Lower Fees on bitcoin ETF: Grayscale plans to reduce fees on its bitcoin ETF to attract more investors.

Binance Founder Launches Education Project: CZ announces a new educational initiative amid legal challenges.

ethereum Not a Security: Coinbase challenges SEC’s stance on ethereum, claiming it is not a security.

Analyst Predicts bitcoin Bottom: Willy Woo suggests that bitcoin has reached its lowest point in the recent pullback.

Montenegro Upholds Do Kwon Extradition Ruling: Do Kwon, co-founder of Terraform Labs, faces extradition to South Korea.

Charts

Check out the chart analysis of ethereum, Ripple, Cardano, Shiba Inu, and Dogecoin for a detailed price overview.

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### News source: cryptopotato.com

By Team