The cryptocurrency market continues its downward momentum. Bitcoin (BTC) has fallen below the $80,000 mark once again. BTC traded below the $80,000 mark in November 2024. The global crypto market cap has dipped 5.6% in the last 24 hours to $2.68 trillion. The low prices could prove to be a good entry point for many investors.
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Cryptocurrencies Continue To Plummet
Crypto-based ETF products have seen continuous outflows over the last few weeks. Macroeconomic factors seem to present a substantial obstacle to the cryptocurrency market. The tariffs imposed by the US have significantly hurt investor sentiment. The US said it would impose additional tariffs on the European Union (EU). The EU responded saying it would retaliate with similar taxes against the US.
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The US has announced a Bitcoin reserve and a digital asset stockpile. The bullish development was not enough to gain investor confidence. The market continues its bearish trajectory.
Top 3 Cryptocurrencies That You Could Buy At A Discount
1. Bitcoin (BTC)
BTC hit an all-time high of $108,786 in January of this year. Since its January highs, the original cryptocurrency has fallen by 26.4%. BTC is the market leader and other assets follow its trajectory. There is a high probability BTC will regain traction over the coming weeks. If macroeconomic conditions improve, BTC could rise to a new all-time high.
2. Ripple (XRP)
Ripple’s XRP token has faced a substantial price correction over the last month. The cryptocurrency breached the $3 mark for the first time in seven years earlier this year. There is a possibility that the SEC will drop its lawsuit against Ripple. The company’s XRP token could surge to a new peak if the lawsuit is out of the picture.
3. Solana (SOL)
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SOL’s price has fallen considerably over the last few weeks. SOL is among the best-performing cryptocurrencies of the last few years. The low prices could be a good entry point for many new investors. SOL’s price could pick up the pace over the coming months.
