Crypto Report: Bitcoin demonstrates resilience, recovering dip below $25,000


Bitcoin (BTC) demonstrated resilience, recovering from a dip below $25,000, ending at $25,160 after a 2.6% drop.

The cryptocurrency rebounded, surging to $25,750 in Asian trading. Despite a 0.3% weekly decrease, strong buying support could maintain it above $25,000. Bitcoin dominance rose from 49.1% to 49.9%, signaling market confidence.

Long-term challenges persist due to low trading volumes in spot and futures markets, reflecting investor caution. The USD’s strength in 2023, especially in H2, exerted pressure on BTC/USDT. Ethereum (ETH) also rebounded, climbing from $1,530 to $1,550, with a 1.8% gain to $1,580.

Ether experienced a slight 3% weekly drop. Ripple (XRP), Solana (SOL), and Polkadot (DOT) lagged, with over 5% losses. Binance’s BNB token fared better, down 2.5% weekly.

The global crypto market cap is at $1.02 trillion, down 0.9% overnight. For the latest updates on cryptocurrencies, stay tuned to the Crypto Report.


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