The Crypto Market is Down Congregately, It Turns Out This Is the Cause
Referring to CoinMarketCap on Friday (6/10/2023) at 06.45 WIB, the crypto market collapsed simultaneously. Bitcoin weakened 1.26% to US$27,439.51 even though it was still up 1.52% on a weekly basis.
Ethereum weakened 2.09% in the last 24 hours and in seven days depreciated 2.32%.
XRP fell 1.73% daily even though it still rose 2.90% weekly.
Likewise, Solana depreciated 1.90% in the last 24 hours even though on a weekly basis it is still flying 14.01%.
The final factor in the current weakening of the crypto market is due to sluggish demand for ETFs, especially Ether. The newly launched ether futures ETF saw volume remain low throughout the first day of trading. Even though these ETFs come out, they don't drive massive price changes.
Referring to CoinMarketCap on Friday (6/10/2023) at 06.45 WIB, the crypto market collapsed simultaneously. Bitcoin weakened 1.26% to US$27,439.51 even though it was still up 1.52% on a weekly basis.
Ethereum weakened 2.09% in the last 24 hours and in seven days depreciated 2.32%.
XRP fell 1.73% daily even though it still rose 2.90% weekly.
Likewise, Solana depreciated 1.90% in the last 24 hours even though on a weekly basis it is still flying 14.01%.
The final factor in the current weakening of the crypto market is due to sluggish demand for ETFs, especially Ether. The newly launched ether futures ETF saw volume remain low throughout the first day of trading. Even though these ETFs come out, they don't drive massive price changes.