Bitcoin Approaches $84,000 as Altcoins Struggle to Recover
Bitcoin is near $83,400, attempting to surpass $84,000 amidst rising investor confidence. Ethereum struggles at $1,900 while XRP and SOL face selling pressure. The global crypto market cap is at $2.7 trillion with significant fluctuations among various cryptocurrencies.
As of March 13, 2025, Bitcoin is trading at approximately $83,400 and is poised to breach the $84,000 mark as investor confidence rebounds following a significant price drop. The cryptocurrency experienced a notable decline earlier in the week, dropping to around $77,000 due to a market-wide sell-off, but it quickly recovered above the $80,000 threshold the following day.
In contrast, Ethereum (ETH) struggles to maintain its footing at the crucial $1,900 level amid competitive selling pressure. The price of ETH has plummeted over 17.5% within the last week, marking a staggering 55% decline from its January peak. Meanwhile, Ripple (XRP) and Solana (SOL) are experiencing similar challenges, with both cryptocurrencies hitting monthly lows following a breach of significant support levels.
Currently, XRP is priced at about $2.26 and SOL at $127, both of which have seen a modest increase of around 3% over the past 24 hours. Other cryptocurrencies displaying notable price movements include PEPE, which rose by 16%, and IP (Sonic), TIA, and XLM, each of which gained nearly 8%.
In other news, Bitcoin Cash (BCH), PPEP (Pepe), HYPE (Hyperliquid), KAITO (Kaito), and LAYER (Solayer) are trending in today’s market. Among the top daily gainers, Aelf (ELF) leads with a 34% increase, followed by Solayer (LAYER) and PEPE, both rising by 14%. Conversely, BinaryX (BNX) tops the list of daily losers with a 17% decline.
The global crypto market capitalization currently stands at $2.7 trillion, with a daily trading volume of $96.03 billion, indicating robust activity despite recent instabilities in the market.
In summary, Bitcoin is striving to surpass the $84,000 threshold, showing renewed investor confidence after recent price corrections. In contrast, Ethereum, XRP, and Solana face significant selling pressures and have not kept pace with Bitcoin’s gains. Overall, the market reflects a mix of volatility and opportunity, with several altcoins showing potential for recovery despite recent declines.
Original Source: www.cryptotimes.io
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