Cryptocurrencylistings Markets: The crypto market remains shaky
Crypto market instability continues to trouble investors, with bitcoin prices showing persistent fluctuations. Many analysts predict a continued downturn amidst the current bearish sentiment.
Even after dropping to a low of $28,702 yesterday, bitcoin has rebounded slightly, hovering just under the $30,000 threshold. At this moment, it’s trading at $29,460.42, reflecting a small increase of nearly 1%. BNB has also improved, showing a modest rise of 1.35% with a new value of $326.49. Conversely, Ethereum and XRP are still experiencing losses, though their downturn isn't as severe as the previous day.
Coins associated with NFTs are facing challenges as well, with Flow, ApeCoin, Decentraland's Mana, and Tezos all underperforming. In contrast, SuperRare and BakeryToken have witnessed impressive price surges of 25.16% and 21.13%, respectively.
It might be premature to conclude that the market is stabilizing. According to Josh Olszewicz, head of research at Valkyrie, we are not in the clear yet, and there's a possibility that bitcoin prices may continue to decrease.
"The process of hitting the bottom could take us through at least the entirety of Q3, and possibly stretch into Q4, if it were to occur this year,\" Olszewicz commented. CoinDesk .
This forecast appears rather bleak for those longing for a bullish turnaround. Olszewicz suggests that institutional investors might be driving the price declines through their on-chain activities.
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