Despite positive inflows into the US's largest spot Bitcoin ETF, BTC prices fell sharply yesterday but are now close to returning to $67,000.
Most altcoins posted significant losses in the past day, with AVAX, DOT, INJ, and ADA leading the decline.
The major cryptocurrency had a volatile end to the trading week as it failed to hold above $65,000 and slipped to $63,000. However, it bounced back on Friday evening and Saturday morning jumping to $67,500.
After a slight decline, it calmed down again on Sunday morning, but the current US President's decision to withdraw from the 2024 election race shook the market again during the day.
Joe Biden's decision to suspend his campaign initially pushed BTC down around two thousand before the asset surged to a monthly peak of just over $68,000 on Monday morning.
More volatility followed the next day, causing bitcoin to fall to $66,700 earlier today despite large inflows into spot BTC ETFs. As of now, the asset is back close to $67,000.
The capital market is currently at $1.320 trillion, while its dominance over altcoins is at 51.7% in CG.
Much of the crypto community is focused on Ethereum today, given the expected launch of the spot ETH ETF in the US. However, the price remained relatively stable on the daily scale at a little over $3,500.
Ripple is another large market cap altcoin with a small increase over the same period, and XRP is currently trading above $0.6. Other altcoin markets are also mired in losses. BNB, TON, ADA, SHIB, DOT, LINK, BCH, NEAR, and UNI were all down around 2%, while AVAX, LTX, ICP, and INJ experienced losses of up to 6%. The total crypto market capitalization has declined slightly since yesterday, but is still above $2.550 trillion.
