The broader cryptocurrency market remains relatively calm and there haven’t been any major movements in the past 24 hours. Bitcoin has been trading in a narrow range between $106,000 and $108,000, leading to speculation about whether this is the calm before a potential storm and if a major move is on the horizon. Bitcoin’s price has been consolidating around $107,000 and there has been a decrease in liquidations, with the majority being short positions. This suggests that bulls are successfully defending this area. However, the number of larger wallets holding 10 BTC or more has reached its highest level since March, indicating that deep-pocketed investors are confident and may be preparing for a potential rally. Altcoins are also trading in the green, with Ripple’s XRP being the best performer among the top 10 by market capitalization. Bitcoin’s dominance has decreased slightly, showing that altcoins are attempting to capitalize on its flat trend. The best performer today is Quant (QNT), followed by SPX6900 and Jupiter (JUP). On the other hand, Aptos, Pi Network, and SEI are the worst performers. This market update is brought to you by CryptoPotato. Our team of experts provides daily market analysis and insights into the cryptocurrency market. Don’t miss out on any price action, subscribe to our daily newsletter and join the conversation on Telegram.
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