The cryptocurrency market has recorded declines in some major digital assets over the past 24 hours. At the same time, some altcoins have seen price increases, APA-Economics reports.
According to data from the CoinMarketCap platform, the price of Bitcoin fell by 0.59% over the past 24 hours to $81,998.89. Although the cryptocurrency has declined by 1.63% over the past seven days, it has gained 1.98% over the past 30 days.
Ethereum dropped by 0.53% to $2,408.50, Zcash declined by 2.14% to $1,145.31, and Bittensor fell by 1.56% to $267.57. The price of Solana also decreased by 0.05% to $105.09.
Meanwhile, BNB rose by 0.54% to $729.63, Monero increased by 1.07% to $601.63, and Bitcoin Cash gained 0.79% to reach $279.35.
Gold-backed cryptocurrencies also recorded declines. Tether Gold (XAUT) fell by 0.61% to $4,139.71, while PAX Gold (PAXG) dropped by 0.63% to $4,139.39.
The CoinMarketCap 20 index decreased by 0.47% over the past 24 hours to 166.15 points. Bitcoin’s market capitalization stood at $1.65 trillion.
Analysts say the weak performance of the cryptocurrency market may be attributed to investors’ cautious approach toward risky assets and profit-taking following previous price increases. Nevertheless, the gains recorded by assets such as BNB, Monero, and Bitcoin Cash indicate that selling pressure has not affected all cryptocurrencies equally.
