{"id":1274,"date":"2023-02-20T17:02:43","date_gmt":"2023-02-20T22:02:43","guid":{"rendered":"https:\/\/embarrdowns.com\/crypto-market-cap-drops-slightly-despite-bitcoin-and-ethereum-prices-reaching-8-month-highs\/"},"modified":"2023-02-20T17:02:44","modified_gmt":"2023-02-20T22:02:44","slug":"crypto-market-cap-drops-slightly-despite-bitcoin-and-ethereum-prices-reaching-8-month-highs","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/crypto-market-cap-drops-slightly-despite-bitcoin-and-ethereum-prices-reaching-8-month-highs\/","title":{"rendered":"Crypto Market Cap Drops Slightly Despite Bitcoin and Ethereum Prices Reaching 8-Month Highs"},"content":{"rendered":"

Bitcoin (BTC) recently reached an 8-month high on February 16th, with a market capitalization of roughly $518,558,039,871 and a trading volume in the last 24 hours of $36,512,792,911.[0]<\/a><\/sup> Ethereum (ETH) is currently trading around the $1,660 mark, up by 7 percent in the past week.[1]<\/a><\/sup> The second largest crypto, Ethereum price falls by 0.95% in the last 24 hours and its market cap is approximately 206.43 billion USD. While Bitcoin’s market dominance is 42.71%, an increase of 0.88% over the day, Ethereum’s market dominance is 18.5%.[2]<\/a><\/sup><\/p>\n

The crypto market cap stands at 1.12 trillion USD, a slight decrease of 0.23% over the past day.[3]<\/a><\/sup> However, the total crypto market volume in the last 24 hours increased by 51.96% and is currently at 63.07 billion USD.[4]<\/a><\/sup> The ever-popular Crypto Fear & Greed Index meanwhile shows \u201cgreed\u201d as the overriding sentiment flavor across crypto this week, with a reading of 62\/100, which is currently the highest since November 2021.[5]<\/a><\/sup><\/p>\n

As of now, the price of Bitcoin is $24,478, but it has not be able to surpass the $25,000 mark yet.[6]<\/a><\/sup> Analysts are speculating that due to the intense resistance at $25k, Bitcoin may experience a period of stabilization before attempting another advance.[7]<\/a><\/sup> CoinMarketCap data shows that Bitcoin is currently trading at $24,473.30, with a slight decrease of 0.50% over the past 24 hours but a 12.49% increase over the past seven days.[6]<\/a><\/sup> What’s more, both major coins have seen a 50% increase in their 24-hour trading volume.[6]<\/a><\/sup><\/p>\n

This week will bring major macroeconomic data for the Bitcoin and crypto markets, which investors should pay attention to.[8]<\/a><\/sup> Despite Bitcoin’s recent success in breaking away from its correlation to the S&P 500 and Dollar Index (DXY), the Federal Reserve’s monetary policy is expected to still have a significant influence on cryptocurrency.[8]<\/a><\/sup> This week, the Federal Open Market Committee (FOMC) meeting at the Fed in February could potentially have an impact on the Bitcoin price.[5]<\/a><\/sup><\/p>\n

Ethereum, the second largest cryptocurrency by market capitalization, has seen a 7.50% increase over the last 24 hours, with its current price at $1,702.<\/p>\n

0. <\/span>“Price analysis 2\/20: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL” Cointelegraph, 20 Feb. 2023, https:\/\/cointelegraph.com\/news\/price-analysis-2-20-spx-dxy-btc-eth-bnb-xrp-ada-matic-doge-sol<\/a><\/a><\/p>\n

1. <\/span>“Crypto Price Today: Bitcoin below $24,000; Shiba Inu, Avalanche, Solana drop 5% each” msnNOW, 17 Feb. 2023, https:\/\/www.msn.com\/en-in\/money\/topstories\/crypto-price-today-bitcoin-below-dollar24000-shiba-inu-avalanche-solana-drop-5percent-each\/ar-AA17AvN8<\/a><\/a><\/p>\n

2. <\/span>“Crypto Market Soared: A Smiley Day For Bitcoin Traders” The Coin Republic, 16 Feb. 2023, https:\/\/www.thecoinrepublic.com\/2023\/02\/16\/crypto-market-soared-a-smiley-day-for-bitcoin-traders<\/a><\/a><\/p>\n

3. <\/span>“Crypto Prices Today: Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), Solana (SOL)” CoinGape, 20 Feb. 2023, https:\/\/coingape.com\/crypto-prices-today-bitcoin-btc-ethereum-eth-polkadot-dot-solana-sol\/<\/a><\/a><\/p>\n

4. <\/span>“Markets: Bitcoin rallies over 11% as top 10 cryptos gain, memecoin Floki surges 82%” Yahoo! Voices, 16 Feb. 2023, https:\/\/www.yahoo.com\/now\/markets-bitcoin-rallies-over-11-095524111.html<\/a><\/a><\/p>\n

5. <\/span>“5 most important Bitcoin events and metrics to watch this week” Crypto News Flash, 20 Feb. 2023, https:\/\/www.crypto-news-flash.com\/bitcoin-stable-above-24k-getting-ready-to-explode-to-30k-5-most-important-btc-events-and-metrics-to-watch-this-week<\/a><\/a><\/p>\n

6. <\/span>“Weekly Market Watch: Bitcoin & Ethereum’s Bulls Gain Momentum, Low Cap Tokens Experience Growth” TronWeekly, 20 Feb. 2023, https:\/\/www.tronweekly.com\/weekly-market-watch-bitcoin-ethereums-gain<\/a><\/a><\/p>\n

7. <\/span>“Bitcoin Price Consolidates After Failing To Break Through Key Resistance Level | Bitcoinist.com” Bitcoinist, 18 Feb. 2023, https:\/\/bitcoinist.com\/bitcoin-price-consolidates-after-failing-to-break-through-key-resistance-level\/<\/a><\/a><\/p>\n

8. <\/span>“Bitcoin And Crypto Face These Key Dates In The Week Ahead” Bitcoinist, 20 Feb. 2023, https:\/\/bitcoinist.com\/bitcoin-crypto-key-dates-this-coming-week\/<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) recently reached an 8-month high on February 16th, with a market capitalization of roughly $518,558,039,871 and a trading volume in the last 24 hours of $36,512,792,911.[0]<\/a><\/sup> Ethereum (ETH) is currently trading around the $1,660 mark, up by 7 percent in the past week.[1]<\/a><\/sup> The second largest crypto, Ethereum price falls by 0.95% in the last 24 hours and its market cap is approximately 206.43 billion USD. While Bitcoin’s market dominance is 42.71%, an increase of 0.88% over the day, Ethereum’s market dominance is 18.5%.[2]<\/a><\/sup><\/p>\n

The crypto market cap stands at 1.12 trillion USD, a slight decrease of 0.23% over the past day.[3]<\/a><\/sup> However, the total crypto market volume in the last 24 hours increased by 51.96% and is currently at 63.07 billion USD.[4]<\/a><\/sup> The ever-popular Crypto Fear & Greed Index meanwhile shows \u201cgreed\u201d as the overriding sentiment flavor across crypto this week, with a reading of 62\/100, which is currently the highest since November 2021.[5]<\/a><\/sup><\/p>\n

As of now, the price of Bitcoin is $24,478, but it has not be able to surpass the $25,000 mark yet.[6]<\/a><\/sup> Analysts are speculating that due to the intense resistance at $25k, Bitcoin may experience a period of stabilization before attempting another advance.[7]<\/a><\/sup> CoinMarketCap data shows that Bitcoin is currently trading at $24,473.30, with a slight decrease of 0.50% over the past 24 hours but a 12.49% increase over the past seven days.[6]<\/a><\/sup> What’s more, both major coins have seen a 50% increase in their 24-hour trading volume.[6]<\/a><\/sup><\/p>\n

This week will bring major macroeconomic data for the Bitcoin and crypto markets, which investors should pay attention to.[8]<\/a><\/sup> Despite Bitcoin’s recent success in breaking away from its correlation to the S&P 500 and Dollar Index (DXY), the Federal Reserve’s monetary policy is expected to still have a significant influence on cryptocurrency.[8]<\/a><\/sup> This week, the Federal Open Market Committee (FOMC) meeting at the Fed in February could potentially have an impact on the Bitcoin price.[5]<\/a><\/sup><\/p>\n

Ethereum, the second largest cryptocurrency by market capitalization, has seen a 7.50% increase over the last 24 hours, with its current price at $1,702.<\/p>\n

0. <\/span>“Price analysis 2\/20: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL” Cointelegraph, 20 Feb. 2023, https:\/\/cointelegraph.com\/news\/price-analysis-2-20-spx-dxy-btc-eth-bnb-xrp-ada-matic-doge-sol<\/a><\/a><\/p>\n

1. <\/span>“Crypto Price Today: Bitcoin below $24,000; Shiba Inu, Avalanche, Solana drop 5% each” msnNOW, 17 Feb. 2023, https:\/\/www.msn.com\/en-in\/money\/topstories\/crypto-price-today-bitcoin-below-dollar24000-shiba-inu-avalanche-solana-drop-5percent-each\/ar-AA17AvN8<\/a><\/a><\/p>\n

2. <\/span>“Crypto Market Soared: A Smiley Day For Bitcoin Traders” The Coin Republic, 16 Feb. 2023, https:\/\/www.thecoinrepublic.com\/2023\/02\/16\/crypto-market-soared-a-smiley-day-for-bitcoin-traders<\/a><\/a><\/p>\n

3. <\/span>“Crypto Prices Today: Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), Solana (SOL)” CoinGape, 20 Feb. 2023, https:\/\/coingape.com\/crypto-prices-today-bitcoin-btc-ethereum-eth-polkadot-dot-solana-sol\/<\/a><\/a><\/p>\n

4. <\/span>“Markets: Bitcoin rallies over 11% as top 10 cryptos gain, memecoin Floki surges 82%” Yahoo! Voices, 16 Feb. 2023, https:\/\/www.yahoo.com\/now\/markets-bitcoin-rallies-over-11-095524111.html<\/a><\/a><\/p>\n

5. <\/span>“5 most important Bitcoin events and metrics to watch this week” Crypto News Flash, 20 Feb. 2023, https:\/\/www.crypto-news-flash.com\/bitcoin-stable-above-24k-getting-ready-to-explode-to-30k-5-most-important-btc-events-and-metrics-to-watch-this-week<\/a><\/a><\/p>\n

6. <\/span>“Weekly Market Watch: Bitcoin & Ethereum’s Bulls Gain Momentum, Low Cap Tokens Experience Growth” TronWeekly, 20 Feb. 2023, https:\/\/www.tronweekly.com\/weekly-market-watch-bitcoin-ethereums-gain<\/a><\/a><\/p>\n

7. <\/span>“Bitcoin Price Consolidates After Failing To Break Through Key Resistance Level | Bitcoinist.com” Bitcoinist, 18 Feb. 2023, https:\/\/bitcoinist.com\/bitcoin-price-consolidates-after-failing-to-break-through-key-resistance-level\/<\/a><\/a><\/p>\n

8. <\/span>“Bitcoin And Crypto Face These Key Dates In The Week Ahead” Bitcoinist, 20 Feb. 2023, https:\/\/bitcoinist.com\/bitcoin-crypto-key-dates-this-coming-week\/<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":1273,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/1274"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=1274"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/1274\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/1273"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=1274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=1274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=1274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}