U.Today – There was a dramatic resurgence in the market today; However, a bearish turn is engulfing some of the most promising altcoins right now. After trading higher and improving sentiment for many traders earlier in the day, the price of (BTC) has done a 180 degree turn and is now trading down 1.56% in 24 hours at $61,760.25.
The bearish decline has also engulfed the duo of Toncoin (TON) and (SHIB). Earlier today, TON shot up as much as 5%; However, at the time of writing, the coin is down 6.85% to $6.846.
Shiba Inu (SHIB) was not spared from market uncertainty, falling 2% to $0.00002362 after jumping as much as 6% earlier in the day. An intriguing similarity between these three assets is their strong community of backers. Although other altcoins like (BNB), (ADA), and (AVAX) are in an uproar right now, the rapid transition underlines how sensitive BTC, TON, and SHIB are to market trends.
As Bitcoin is the dominant currency of the three, the growth trends it is likely to exhibit in the near term have what it takes to trigger a corresponding recovery. Amid the sudden price drop, market experts believe that conditions are set for Bitcoin to record ambitious new bullish trends.
The Bitcoin halving event and the accompanying demand for the Bitcoin ETF spot market serve as a massive catalyst to boost the coin's price. In recent weeks, many bullish revelations have shown that many major financial and investment firms have exposure to spot Bitcoin ETFs. Among the most revered are UBS, BNP Paribas (OTC:) and Susquehanna International Group.
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Important fundamental news in the Shiba Inu and Toncoin ecosystems may also drive sustained sentiment to fuel a comprehensive price recovery.
This article was originally published on U.Today.
