Bitcoin and Altcoin Markets: Current Status Analysis (February 6)

The cryptocurrency market has been experiencing a volatile period lately. The famous digital currency Bitcoin is currently trading at around $66,344, having lost 5.9% of its value at the time of writing. Against the Turkish lira, it has decreased to approximately 2,882,560 TL. As a cautious process begins for investors, the downturns in the markets are particularly evident in Ethereum and other altcoins as well.

Ethereum (ETH) has dropped to around $1,949 with a decrease of 6.4%, BNB (BNB) has fallen to $638, down by 7.3%, Ripple (XRP) has decreased by 7.2% to $1.32, Dogecoin (DOGE) has dropped 8.3% to $0.093, Solana (SOL) has decreased by 10.2% to $81.6, and TRON (TRX) has fallen 3.1% to $0.271. This situation catches the attention of investors, and the market reactions are eagerly awaited.

In the past 24 hours, MYX Finance (MYX) has become the biggest gainer altcoin with a 9.4% increase, while Official Trump (TRUMP) has dropped 15.8% to become the biggest loser altcoin. At the time of writing, MYX Finance is trading at $6.57, while TRUMP is valued at $3.44. Such fluctuations present both opportunities and risks for investors.

Exchange rates are also among the factors affecting the cryptocurrency market. The dollar index (DXY) stands at 97.34, while the Dollar/TL is at 43.51 and the Euro/TL is at 51.53. The total value of the cryptocurrency market is around $2.65 trillion, with Bitcoin’s market value approximately at $1.52 trillion.

In the last 24 hours, the cryptocurrency market has achieved a trading volume of around $186 billion. However, $161 million in liquidations occurred, affecting more than 704,000 investors. A significant portion of the liquidated positions consists of 75.79% long positions, with Ethereum being the most liquidated asset.

It has once again become clear that investors need to act cautiously in this volatile market and monitor sudden changes closely.