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Bitcoin Holds Steady, but ETH, XRP, and ADA Price Drop Hard
The global cryptocurrency market has witnessed a significant correction, with the total value shedding over $66 billion in just 24 hours. This substantial dip has led to a major slump in altcoin prices, while Bitcoin’s price remains steady above the critical $118,000 support level.
Bitcoin, often seen as a safe-haven asset, has surprisingly held its ground amidst the market turmoil. The world’s largest cryptocurrency by market capitalization is currently trading at around $118,500, defying expectations of a sharp decline.
On the other hand, Ethereum (ETH), Ripple (XRP), and Cardano (ADA) have been brutally battered, with their prices plummeting to alarming levels. This unexpected shift in market sentiment has left investors reeling, as it is unclear whether this downturn will be short-lived or an indication of a deeper correction.
In the midst of chaos, it becomes imperative for traders to stay informed and adapt quickly to the rapidly evolving landscape.
Source: coinpedia.org
