The crypto market experienced notable fluctuations over the past day, as Bitcoin maintained relative stability near the $94,000 level, while Litecoin (LTC) suffered sharp losses after the SEC delayed its exchange-traded fund application.
At the beginning of the week, Bitcoin tried to break through the resistance level at $95,000, but selling pressures prevented this, leading to a price drop of $1,000.
Despite these movements, Bitcoin performed strongly at the end of April, rising from the level of $93,000 to over $97,000 within hours, before peaking near $98,000 on Friday.
However, the wave of optimism did not last long, as the price began to gradually decline, returning to the level of $93,000 again, before stabilizing just above $94,000.
In light of this performance, the total market value of Bitcoin remained relatively weak at $1.860 trillion, with its market dominance continuing at around 62% according to the CG index.
On the other hand, the Litecoin currency faced significant selling pressure following the announcement of the delay in the Securities and Exchange Commission's decision regarding its exchange-traded fund, which caused the currency to drop by 7% in one day.
Despite this drop, the price is still slightly above $80.
The decline was not limited to the LTC currency, as most major cryptocurrencies experienced varying losses, including ETH, ADA, XRP, DOGE, and LINK, in addition to SUI, LEO, XLM, AAVE, and APT, with an overall decline of about 5%.
On the other hand, some currencies recorded slight gains like BNB, TAO, and XMR, but these were not enough to offset the overall market decline, as the total market value of cryptocurrencies decreased by $40 billion, settling at $3.030 trillion on the 'coingecko' platform.
