In a recent steep fall, most of the high-rank altcoins in the cryptocurrency market are again listed on the negative side of the percentage. The chart of the 20 most significant digital assets by market capitalization reveals that Shiba Inu (SHIB) and Dogecoin.
which are popular meme coins, have become some of the largest cryptocurrencies with negative daily performance, all being down by more than 5% within the past 24 hours along with Bitcoin Cash (BCH).
Mt. Gox, a Bitcoin exchange that shut its doors down as a result of a 2014 hack and subsequent insolvency, has started to pay out some of the losses sustained through the increased value of Bitcoin and Bitcoin Cash.
Initially founded by Jed McCaleb in 2010 as a Yap brand derivative called Mt, Gox is currently the main source of negative pressure on the weak crypto market.
Al parity, the market anticipates that the selling pressure will continue, leading to a second fall for the largest cryptocurrency.
In addition, there have been elements of the cryptocurrency market selling the confiscated Bitcoin seized by the German government on a continuous basis.
However, influenced by bearish sentiment, the cryptocurrency market remains rather stable. According to the financial news agency Bloomberg, Deribit, a popular global options market, seems to consider the current correction a blip on the radar, from which cryptocurrencies are still on track to reach the mythical $100,000 level.
Peter Brandt, a commodity trader, recognized a Bitcoin buy signal and estimated that the dominant cryptocurrency market would reach its highest in August 2025.
At the same time, Caroline Mauron from Orbit Markets told Bloomberg that actual inflation numbers would contain information about further rate cuts as a tool to support crypto assets.
At the moment, it is the king of cryptocurrencies, with its value standing at $55,589, and it has been below $54,000 the last week.
Disclaimer: Cryptocurrency investments are considered high-risk and may result in an entire lack of capital; the facts provided are widespread, and beginners are not advised to spend money on shares.
