Crypto Price Today (June 24): Bitcoin, XRP, DOGE Rally Despite Middle East Unrest

On June 24, the cryptocurrency market showed signs of recovery amid Middle East tensions. Bitcoin rebounded to $105,679, following a dip, while Ethereum surged 10%. XRP and Dogecoin also saw significant gains. However, over $406 million in positions were liquidated as traders navigated through the volatile landscape.

Crypto had quite a mixed bag of excitement today, June 24, amidst rising tensions in the Middle East. The situation got intense over the weekend, with the United States stepping into the fray. Investors are understandably on edge—cautious amidst all this volatility. But, in a surprising twist, the cryptocurrency market is showing some signs of bouncing back, attracting the attention of traders and analysts alike.

Bitcoin is the star of the show today, recovering impressively after a dip below $105,000 just days ago. As of now, it’s up around 4%, trading at $105,679, after hitting a low of $105,539. This is quite a turnaround, especially since it dropped under the $100k mark just over the weekend. That trading volume? A sharp spike to $65 billion, representing a 16.53% uptick, pushing its market cap to a whopping $2.1 trillion.

The charts tell an interesting story—right after Bitcoin broke out of a tough period, it tested a demand zone at $99,492 and is now consolidating at a higher level. With the Relative Strength Index (RSI) sitting at 61, it definitely shows that bulls are in control, leaving some room for more upward movement.

Ethereum’s performance, however, took the prize today, soaring by 10%, climbing to $2,478 from a low of $2,197. This rally isn’t happening in a vacuum; Ethereum saw a staggering 19% boost in trading volume, reaching $25.8 billion, and its market cap shot up by 11%. It’s fascinating how this recovery began midway through the last week, as it earlier fell from $2,557 to $2,131.

And XRP, along with Dogecoin (DOGE), both enjoyed the rally, spiking 10% today. XRP is now priced at $2.20, which is a notable 12% surge from its daily low of $1.96. Trading volume surged 25%, along with a sizable increase in market cap to $130.15 billion just today. On the DOGE front, it also had a decent run, increasing by 10.43% with trading volume jumping to $1.4 billion, reflecting an 11% rise in that category.

Now, looking at the bigger picture, the whole crypto market seems to be thriving right now. CoinMarketCap reports the market capitalization has reached $3.2 trillion, marking a 5.67% surge. Trading activity has been on the moderate to high side, clocking in at $146 billion. Still, amid all this buzz, traders faced some turmoil, with reported losses due to liquidation amounting to $406.43 million in just the last 24 hours. Over 116,800 traders were wiped out, with shorts leading the charge in losses at $338.75 million.

In summary, today brought a fascinating turn in the crypto world, despite the unsettled global climate. Bitcoin, Ethereum, XRP, and Dogecoin each made significant gains, fueling a broader market recovery. Yet, conflicting narratives regarding trader losses remind us that the market remains as unpredictable as ever. Only time will tell what tomorrow holds for these digital assets.

In conclusion, June 24 highlights a notable recovery in the crypto market amidst global tensions. Major players like Bitcoin and Ethereum staged impressive comebacks, while XRP and Dogecoin joined the rally. However, the market’s volatility is evident, with substantial trader liquidations raising concerns. As the market continues to evolve, investors are advised to remain cautious yet attentive to ongoing developments.

Original Source: www.cryptotimes.io