Bitcoin Falls Below $97K, Dragging Down Major Cryptocurrencies: It traded at just above $97,000 just a week after hitting a high of more than $100,000, triggering a general bearish trend on the cryptocurrency market. According to the latest information, Bitcoin remains low at -3%, with a value of $96,880. This decline has a negative rollover effect, with other major assets such as Dogecoin (DOGE) and Ripple (XRP) experiencing pump declines within the last 24 hours.
Crypto Bellwether, DogeCoin, and XRP’s Biggest Daily Losses
Dogecoin, which hit a 2021 high of $0.48 at the weekend, has fallen close to 8% to trade at $0.428. Still, DOGE has risen to around $0.003150, almost 1% advanced in the week. However, XRP, related to Ripple, has failed by 8% and is now trading at $2.38, which is just 0.30% higher than its seven-year high of $2.82 set last Tuesday. Notwithstanding a 14 percent drop over the last seven days, XRP yields a 333 percent increase in the regular chart, while Dogecoin has risen by 106 percent within one month.
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Solana and Ethereum also follow suit.
Solana is now below $222 after a 6% daily loss, and Ethereum is $78 below today’s high of $3,786 after a 5% daily decline. Other cryptos, including Metals (AVAX), Doge (DSHIB), Chainlink (LINK), and Polkadot (DOT), dropped by nearly 9%.
Going for the insolvency increase with market fluctuation Now that a bearish market is designed, long and short insolvencies have totaled $620 million in the past 24 hours, with Bitcoin leading at $86 million. This increased volatility persists and affects investors as there are abrupt changes in the value of major cryptocurrencies.
