Bitcoin, Ethereum Move Lower; Akash Network Becomes Top Loser
Portfolio Pulse from Avi Kapoor
Bitcoin and Ethereum experienced declines, with Bitcoin falling below $64,000 and Ethereum below $3,100. The global crypto market cap decreased by 0.2% to $2.35 trillion. Worldcoin was the top gainer, while Akash Network was the biggest loser among cryptocurrencies over the past 24 hours.
May 06, 2024 | 2:56 pm
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NEGATIVE IMPACT
Bitcoin fell below the key $64,000 level, trading lower by 0.5% at $63,662.
Bitcoin's fall below a significant price level indicates bearish sentiment in the short term, likely leading to a negative impact on its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Ethereum recorded losses, trading below the key $3,100 mark at $3,094, a decline of around 1.7%.
Ethereum's drop below a critical price point suggests a short-term negative outlook, potentially leading to further price declines.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90