On Mondays early afternoon in the United States, Ether (ETH), the second largest cryptocurrency by market value, sat slightly above the $3,100 threshold. Despite attempts to hold onto recent gains, Ether found it challenging following the crypto market’s chaotic selloff over the weekend.

Over the last 24 hours, Ethereum has advanced by 4%, but since reaching almost $3,300 early Monday due to unverified reports of approval for several Bitcoin and Ethereum spot ETFs in Hong Kong, it has dropped approximately 4%.

The price of bitcoin (BTC) has dipped again, currently sitting at around $64,200 – a modest decrease from its peak of almost $67,000 attained earlier today.

The broader CoinDesk 20 Index is ahead 0.68% over the past 24 hours.

Simultaneously, Solana’s (SOL) price retreated significantly from its peak, dipping to approximately $140 after reaching a high of $155 early Monday. This represents a decline from the $175 mark attained just two days prior.

On Saturday, the prices of Bitcoin, Ether, and other cryptocurrencies dipped. Bitcoin fell to around $61,000, while Ether dropped below $3,000. This downturn occurred as Iran initiated a series of attacks on Israel. However, by the end of the weekend, the crypto market showed signs of recovery.

In a message to their investors based in Singapore, QCP Capital shared that historically, purchasing cryptocurrencies or other digital assets during significant geopolitical tensions has resulted in lucrative returns.

Ed Goh, the trading chief at B2C2, a liquidity provider, shared that their company has observed persistent purchasing of Bitcoin, notably during the recent weekend price drops. Approximately 57% of their transactions were in favor of buyers according to Goh’s statement. Furthermore, he mentioned that altcoin trading remains brisk and there is a prevailing inclination towards acquiring altcoins as well.

The Bitcoin halving is coming up on April 19th, and certain investors anticipate that this occurrence may cause a temporary drop in price both before and following the event due to profit-taking or selling off positions in advance of potential market volatility.

In spite of the obstacles, certain alternative coins experienced notable increases on Monday. Ondo Finance (ONDO) surged by 15% within the last 24 hours, while Render’s RNDR went up by 12%, and The Graph (GRT) climbed 9%.

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2024-04-15 20:38