Bitcoin and Altcoins Current Status: Market Analysis (February 5)

Recent developments in the cryptocurrency markets are attracting investors' attention. Bitcoin is trading at $70,752.8, reflecting a decline of %7.5 at the time of writing. Against the Turkish Lira, Bitcoin's value is approximately 3,080,280 TL.

In particular, Ethereum (ETH) is trading at $2,085.55 with a decline of %8.1. BNB (BNB) has fallen by %9.3 to $690.31, while Ripple (XRP) has decreased %10.3 to $1.43. Dogecoin (DOGE) has seen a reduction of %6.2, trading at $0.1012, Solana (SOL) is down %7.7 at $89.95, and TRON (TRX) has dropped %2.3 to $0.2801.

In the last 24 hours, Collect on Fanable (COLLECT) has drawn attention with a rise of %35.9, while Warden (WARD) is the biggest loser among altcoins with a %27.8 decline. Collect on Fanable is currently trading at $0.04067, while Warden is at $0.09877.

When we evaluate the foreign exchange market, the dollar index (DXY) is hovering around 97.81. The market capitalization of Bitcoin is around $1.8 trillion, while the total market capitalization of the cryptocurrency market stands at approximately $2.48 trillion. In the past 24 hours, the trading volume in the cryptocurrency market has reached about $212 billion.

In terms of exchange rates, dollar/TL is at 43.53 and the Euro/TL parity is trading at 51.42. In the last 24 hours, a total of $841.88 million has been liquidated from the cryptocurrency market, affecting more than 173,000 investors. Long positions constitute %83.59 of the liquidated positions, with the majority of liquidations occurring in Bitcoin.