Why Did Bitcoin and Altcoins Drop? BTC, XRP, ETH Analysis - Coinleaks
Current Date:November 7, 2024

Why Did Bitcoin and Altcoins Drop? BTC, XRP, ETH Analysis

It’s been pretty quiet in the last few months. cryptocurrency The market fell hard during the night hours. Bitcoin and altcoin investors, who started the day, were stunned by the red candle they encountered. In this article, we will examine the charts of Bitcoin (BTC), Ripple (XRP) and Ethereum (ETH) from popular cryptocurrencies.

Bitcoin (BTC)

The father and greatest of cryptocurrencies bitcoin , faced with the biggest sale of the last months after the claim made at night. According to the Wall Street Journal, Elon Musk’s space company SpaceX has a value of more than 370 million dollars. BTC sold the tokens over the years. Some investors panicked after the news resonated on social media.

Bitcoin, which fell to the $ 25,150 level during the night hours, held above the $ 25,420 support. The leading cryptocurrency is currently changing hands at around $26,450.

Ethereum (ETH)

Due to development from SpaceX Ethereumeven though the price has dropped SEC induced developments may have prevented further losses. Speaking to sources, an unidentified official claimed that the SEC will soon approve futures Ethereum funds.

The largest altcoin unit, whose value is volatile, dropped as low as $1,550 overnight. But the response from the bulls ETH moved its price back to the level of $ 1,690. If the claim in question is realized, it is possible that the price of Ethereum will move up.

Ripple (XRP)

Continuing its legal battle with the SEC Ripple This week, we came across with important developments. XRP did not accept the SEC, which filed an interim appeal following Judge Torres’ decision. However, the court approved this request yesterday evening.

Adding SpaceX claims on top of the court’s interim appeal XRP price is almost back to where it started to rise. Ripple price dropped below the $0.425 level overnight. Incoming buying reactions are currently keeping the XRP price above the $0.50 support.

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