The cryptocurrency market has failed to recover as swiftly as many expected it to, and Bitcoins price seems to be struggling to break above $66K definitively. Most of the altcoins are also trading in the red, with two notable exceptions.

Bitcoin Fails at $66K

As seen in the chart below, Bitcoins price was unable to retain its bullish momentum that took it all the way to $68K.

BTC has since retraced, declining by more than 2% on the day, trading where its currently at around $65,500.

The sentiment is currently mixed, with many believing that theres more pain to come. The other end of the spectrum is analysts who claim that this is nothing but a normal correction following months of up only action. Meanwhil, spot Bitcoin ETF flows continue to be negative for the fourth day in a row.

Source: CoinGecko

Ripple Defies Market Sentiment

While the short-term market sentiment remains rather mixed, leaning toward bearish, Ripples XRP managed to increase by a considerable 4% on the day. The coin is currently trading at around $0.63 and together with BNB are the best-performing major altcoins trading substantially in the green.

Alicia BakeryCMO - A really good agencyDid you like this market update?

This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:

Invalid email address Your privacy is guranteed.Thanks for subscribing, you will get your first report in the next hours!

Source: Quantify Crypto The best-performing cryptocurrency for the past 24 hours is Fantom, which increased by a whopping 12.1% in that time. FTM is followed by the Internet Computer (ICP) and Ronin (RON), both of which are up by around 10%.

On the other end of the spectrum, Bittensors TAO token is down 9%, followed by FLOKI, which tumbled by 8%.

SPECIAL OFFER (Sponsored) LIMITED OFFER 2024 for CryptoPotato readers at Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.