The price of Bitcoin seems to be consolidating around $35,000, which seems to have given room to altcoins, which, however, on Tuesday (7/11) recorded mixed signs.
Bitcoin has seen its price rise by 2% in the past week, but has been unable to break away from the $35,000 level for days.
Bitcoin has doubled in value this year amid weak liquidity conditions. However, volatility is largely absent from the market.
Its dominance over altcoins currently stands at 52.67%, registering an increase in the last day.
Altcoins, on the other hand, are recording mixed signs.
In interesting market data, cryptocurrency-related funds recorded their best inflows since the 2021 bull market as investors continue to pile into the market, digital asset manager CoinShares said in a report on Monday.
Investment vehicles holding cryptocurrencies saw net inflows of $261 million last week, marking six consecutive weeks of positive inflows totaling $767 million.
“This number of inflows now matches that of July 2023 and is the largest since the end of the bull market in December 2021,” noted CoinShares head of research James Butterfill.
At midday Tuesday, Bitcoin is down 0.88% at $34,782.45, while Ethereum is down 1.81% at $1,872.70.
As for other well-known cryptocurrencies, Solana is up 4.12% to $41.99, while Cardano is down 2.38% to $0.34513472.
Polkadot gained 0.47% to $4.89, Dogecoin gained 0.65% to $0.07342721 and Shiba Inu fell 1.00% to $0.000008189.
Natasha Papadimitropoulou
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