Cryptocurrency market today May 24
The cryptocurrency market today, May 24, is simultaneously reversing. Bitcoin today continued to correct and even dropped below $67,000.
After the ETH ETF was approved, most assets simultaneously turned red. Total cryptocurrency market Capital today dropped by over $100 billion on CoinGecko .
BTC drops below $67,000
Last week was very unpredictable for assets. BTC has stabilized at around $67,000 after a quiet weekend. But that all changed on Monday night when rumors surfaced regarding an ETH ETF.
Bitcoin, along with most of the cryptocurrency market, has skyrocketed in unison. BTC has reached its highest price in nearly two months of nearly $72,000.
The rally stopped at that time and BTC started losing value gradually. However, it traded in a range of around $70,000 until last night. This comes hours before the SEC's decision deadline on whether it will approve or deny all ETF applications.
More volatility ensued when the regulator actually approved eight Ethereum ETFs, and BTC fell to $66,400 before skyrocketing to $2k. However, it has once again lost ground and is now struggling below the $67,000 level.
Its market Capital dropped to $1.310 trillion. Its dominance rate over alternative coins is 50.2%.
Alt is fiery
As expected, the aforementioned developments surrounding the Ethereum ETF impacted the price of the underlying asset the most. ETH spiked more than 20% on Monday to a six-week high at more than $3,900. It also fell and rose yesterday ahead of the SEC approval but is now down 4% on the day at $3,655.
The rest of the larger- Capital altcoins are in no better shape either. Solana, Dogecoin, Toncoin, Cardano, Avalanche, Polkadot and Shiba Inu all suffered 5-8% dumps. BNB, XRP, TRX and BCH are also in the red.
The post Tracking cryptocurrency market movements today, May 24, appeared first on CoinPlus .
