Bitcoin Holds Above $57K As Etfs Rebound

7/10/2024 3:29:41 PM

(MENAFN- eTrendy Stock) The global Cryptocurrency market capitalization has remained at around $2.13 trillion till today as the market witnessed slow price movements among bitcoin and other top cryptocurrencies over the past day.

While the market has traded bullishly over the past day, the price of Bitcoin surged slightly by 0.41%, holding steady above $57000. Notably, Bitcoin surged to a peak of $59000 during the last intraday session, showing signs of a bullish momentum.

Amid this series of price corrections, the total crypto market volume has declined by 15.48% over the last 24 hours to $65.16 billion as of press time, according to data provided by CoinMarketCap.

Bitcoin Resumes Spot ETF Inflows

After several days of zero to little inflows, spot Bitcoin ETFs recently recorded the most significant inflow of the month, worth about $295 million. This offsets Bitcoin's bearish price actions due to heightened sell-off pressures.

This impressive net inflow has seen the price of Bitcoin show resilience while showing signs of a positive trajectory. As always, Bitcoin retained its dominance over the crypto market, leading with 53.4% of the total market capitalization, while Ethereum remains the second fiddle at 17.6%.

This positive movement has also influenced the price of other top altcoins as Ethereum, BNB, and SOL recorded decent price surges of 1.33%, 1.61%, and 0.39%, respectively.

Mog Coin Leads Gainers

Mog Coin notes the most significant gain of the day as it tops the gainers list with about a 17% increase in price since the last day.

Although MOG has declined by 16.59% from its all-time high of $0.000002095 a few weeks ago, it has recorded the most gain today. As of the time of writing, Mog Coin's price is $0.000001715.

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