Bitcoin Unable to Recover Decisively, Ethereum Consolidates Below $3K (Weekend Watch)
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: May 12 2024- Cryptocurrency Market Calmness: The market has stabilized in the past 24 hours, pausing the bearish trend and showing signs of consolidation.
- Bitcoin's Price Movement: Bitcoin is trading around $61K, while Ethereum struggles below $3K.
- Bitcoin Bulls Regrouping: A sudden correction in Bitcoin's price occurred due to a statement from a US Federal Reserve representative about rate cuts, but the market has calmed down since then.
- Altcoins Consolidation: Major altcoins are consolidating after the recent crash, with slight gains observed in the heatmap.
- Best and Worst Performers: Immutable (IMX) and Ribbon Finance (RBN) are top performers, while Zebec Protocol (ZBC) and Kaspa (KAS) are among the worst performers.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
