The crypto market today is still facing weakness, with Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) all in the red zone. According to CoinMarketCap data, the price of Bitcoin fell by 0.89% in 24 hours to $102,379 (IDR 1.68 billion), while Ethereum plummeted by 4.19% to IDR 37.8 million per coin. This decline was triggered by geopolitical tensions between Iran and Israel, which increased risk sentiment in the digital asset market.
BNB also corrected by 1.94% in a day to
IDR 10.3 million, continuing the sluggish trend of the past week. Nevertheless, analysts noted that BNB still has strong fundamentals as a utility asset in the Binance Smart Chain (BSC) ecosystem, with a market capitalization of $88.58 billion.
Amid market pressure, Bitcoin has shown resilience as a safe-haven asset, with a 656% increase since 2022. Meanwhile, Ethereum is facing challenges with trading volume shrinking by 15% due to the Federal Reserve's monetary policies that have yet to lower interest rates.
Future Prospects
- Bitcoin needs to maintain support at $104,670 to avoid deeper corrections.
- Ethereum and BNB have the potential to rebound if there are new catalysts, such as an increase in DeFi adoption or technological updates.
