Daily Times

The cryptocurrency market turned bearish on Thursday, with the market capitalization losing 1.3 percent to reach $1.75 trillion.

As of 1305 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, slipped to $42,367 with a decrease of 0.8 percent in the last 24 hours. The market capitalization of the biggest crypto has reached $830.5 billion with this decrease. Bitcoin has been 10.7 percent down in the past seven days.

Bitcoin managed to remain stable within the $42,000 range. Bitcoin consolidates at $42,000, marked by profit booking and increased investor interest following spot ETF approval. Bears are currently active at $43,500. BTC’s resistance stands at $43,250, with support at $42,120. The excitement from Bitcoin spot exchange-traded funds (ETFs) seemed to have fizzled out of late.

On the other hand, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, went down by 1.6 percent to reach $2,507. With this decrease in price, the market capitalization of ETH has reached $301.4 billion. ETH has shed 5.5 percent of its value during the last seven days.

Following suit, Binance Coin (BNB) price decreased by 0.7 percent to reach $311. The market capitalization of BNB has reached $47.8 billion with this decrease. BNB has shed 1.9 percent of its value during the last seven days.