Crypto market infected with correction

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The crypto market has lost almost 2% of its capitalisation in the last 24 hours to $2.51 trillion. Bitcoin is holding up better than the market, pulling back only 0.7% to $67.6K. Many top coins have deeper drawdowns. Ethereum loses almost 3%, BNB loses 1.6%, and Solana loses 2.6%. Meme coins are under fiercer pressure.

ALX LEADS YOUTH UNEMPLOYMENT CHARGE WITH ACCESSIBLE, AWARD-WINNING TECH EDUCATIONUpsides of Social Media Marketing With no meaningful drivers of its own, the crypto market has come under indirect pressure due to the stock market.

Glassnode recorded signs of a recovery in buyer interest in Bitcoin. Long-term BTC holders have resumed accumulation for the first time since December 2023 after months of selling.BlackRock’s spot bitcoin ETF outperformed Grayscale’s BTC-ETF in terms of assets under management. The Wall Street investment giant’s fund was the largest in the segment at $19.68bn, with total net inflows into US spot bitcoin-ETFs totalling $45.14m.

The SEC has withdrawn its lawsuit against mining company Digital Licensing, also known as DEBT Box. A U.S. federal court ordered the regulator to pay about $1.8 million in case costs. In August 2023, the SEC accused DEBT Box of fraudulently raising $50 million in cash as well as unnamed amounts in BTC and ETH. In December, the court found that the agency’s lawyers had misled it in an attempt to block DEBT Box’s funds.

 

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