The cryptocurrency market has experienced a relative calm in the last 24 hours, following a period of intense volatility that led to a substantial drop in prices. Bitcoin, the leading cryptocurrency, is currently trading in the US$61,000 range, showing an attempt to stabilize after a sudden correction that resulted in a devaluation of approximately 3.5% in just one day.
This drop in the value of Bitcoin was driven by recent comments from a representative of the US Federal Reserve, who mentioned that it was premature to consider reductions in interest rates. Despite a brief recovery attempt that took the price to around US$61,400, selling pressure was present, stabilizing the price at around US$61,000. At the time of publication, the price of BTC was quoted at US$61,083.78, up 0.5% in the last 24 hours.
It is important to highlight that, despite this recent drop, the Fear and Greed index still signals a market in a state of “greed”, indicating that there is still a positive feeling among investors.
In the altcoins scenario, Ethereum stands out which, after the fall, continues to be traded below the important psychological level of US$3,000. Ethereum's ability to recover will be crucial in indicating the future direction of the market.
Among the positive highlights of the moment, cryptocurrencies Core (CORE), THORChain (RUNE), Arweave (AR) and Toncoin (TON) showed gains of 4% and 7%, respectively. On the other hand, Zebec Protocol (ZBC) and Akash Network (AKT) faced the biggest losses, with drops of 7% and 4%.
The current situation in the cryptocurrency market reflects a consolidation phase, where prices attempt to stabilize after a period of negative adjustments. Market observers and investors remain attentive to upcoming movements, especially in relation to the behavior of Bitcoin and Ethereum, which could signal trends for the coming weeks.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/bitcoin-luta-para-se-recuperar-apos-queda-mantendo-se-abaixo-dos-us-62-mil/