Bitcoin (BTC-USD) saw its price dip to $96,000 after briefly surpassing $97,000 in a rally that pushed the global cryptocurrency market capitalisation to $3.4 trillion in early Friday trading. Retail profit-taking has tempered market momentum, keeping further growth in check.
According to CoinMarketCap, the global crypto market cap recorded a 1.21% increase in the last 24 hours, with a total trading volume of $116.84 billion, representing a 13.08% surge. DeFi trading volume accounted for $8.79 billion, or 7.52% of the 24-hour total, while stablecoin transactions dominated at $107.61 billion, equating to 92.10% of the overall market activity.
Bitcoin’s trading volume jumped 90.5% to $46.5 billion, with the cryptocurrency up 3% earlier to hit $97,433 before retreating. Ethereum (ETH-USD), the second-largest digital asset, rose 2.9% to $3,450. Other major cryptocurrencies saw mixed performances: XRP (XRP-USD) gained 3.6%, Solana (SOL-USD) surged 6.8%, Cardano (ADA-USD) climbed 3.9%, and Dogecoin (DOGE-USD) rose 4%. Conversely, BNB (BNB-USD) dipped slightly by 0.2%.
The CoinDesk Market Index, which tracks 126 digital assets, reported a 3.3% increase over the past 24 hours. However, broader financial markets reflected some unease, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average declining 0.3%, 0.3%, and 0.4%, respectively.
Meanwhile, US Treasury yields showed mixed movements. The 10-year yield rose to 4.573%, up slightly from the previous close of 4.569%, while the five-year yield fell marginally to 4.378% from 4.382%.
As profit-taking pressures persist, Bitcoin’s price fluctuations underline the volatile nature of the cryptocurrency market, even as overall market activity continues to expand.
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