Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Cryptocurrency prices remain in a declining trend, with some of the major altcoins recording significant losses over the past 24 hours.
Shiba Inu, Ethereum, Dogecoin and Solana are all down roughly 8%, becoming the top laggards of the day.
Bitcoin, the top crypto, also shed 5%. It is now 33.50% away from its previous all-time high, but it is still up 62.95% on a year-to-date basis.
The crypto king keeps trading in tandem with the U.S. stock market, which is under some pressure during the last trading day of the week. The tech-focused Nasdaq is trading 1.84% lower. The S&P 500 and the Dow are down 1.46% and 1.71%, respectively, at press time.
Bitcoin is currently trading at its lowest level since Dec. 4, the day the flagship cryptocurrency collapsed over 17% within 24 hours and reached a local bottom of $42,000.
Alex DovbnyaAlmost the entire CoinMarketCap 100 is in the red, with only two exceptions. The yearn.finance (YFI) token is up 34.11% after the team behind the decentralized finance protocol announced that it would be buying back the cryptocurrency. Waves (WAVES) is also up 6%, bucking the overall bearish trend on the market.
Roughly $278 million worth of cryptocurrencies have been liquidated over the past day, according to Coinglass data.
Gamza Khanzadaev
Tomiwabold Olajide
Vladislav Sopov
Dan Burgin