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Crypto Market Today: Bitcoin Price Holds Firm at $80k, ETH Grips $1.5k
In today’s market update, we’re witnessing a remarkable phenomenon as the crypto space continues to defy expectations. As I write this article, Bitcoin (BTC) is holding firm at an astonishing $80,530, while Ethereum (ETH) has gripped a price of $1,500.
The recent surge in inflation figures has led many analysts to predict a downward trend for cryptocurrencies. However, it appears that the market has taken a different turn. Despite the bearish sentiment surrounding Bitcoin’s 24-hour range of $78,456 to $82,339, the king of cryptos seems to be defying gravity.
It is imperative to note that trading volume has plummeted by an astonishing 42.65% to $44.67 billion, indicating a cautious investor mood despite the bullish macroeconomic signal. This sharp drop in volume could be indicative of institutions and whales taking profits, which may have further implications for short-term price action.
The market capitalization of Bitcoin currently stands at a staggering $1.59 trillion, reinforcing its position as the most valuable asset in the digital realm.
Source: https://coinpedia.org/price-analysis/crypto-market-today-bitcoin-price-holds-firm-at-80k-eth-grips-1-5k/
