Due to significant ETF withdrawals, cryptocurrency markets saw decreased activity on Friday. In early Friday trade, the benchmark cryptocurrency BTC dropped 3.2% to $41,381, while Ethereum dropped 2.5% to $2,467.

Due to significant outflows from Exchange Traded Products (ETPs) to new spot ETF issuers, Bitcoin is under pressure to sell, which has caused an unanticipated downward trend in the cryptocurrency market.

Due to significant outflows from Exchange Traded Products (ETPs) to new spot ETF issuers, Bitcoin is under pressure to sell, which has caused an unanticipated downward trend in the cryptocurrency market.

Major cryptocurrencies like Avalanche and Solana had declines of more than 6% apiece. Cardano, XRP, Dogecoin, Chainlink, Polygon, Internet Computer, Toncoin, and Polkadot declined as well.

“Sell the news” pressure on Bitcoin caused by investor activity surrounding the introduction of spot ETFs caused the cryptocurrency to drop to its lowest level in a month, according to the Lead for Investments at CoinSwitch Ventures. For a while, we can anticipate some price volatility for Bitcoin. Nonetheless, there are still plenty of ETF inflows and Assets under Management (AUM) available.

Currently, DeFi’s total volume is $5.54 billion, or 8.49% of the 24-hour volume of the whole cryptocurrency market. At $59.51 billion, the total value of stablecoins represents 91.23% of the 24-hour volume of the cryptocurrency market.

The largest cryptocurrency in the world, Bitcoin, had a fall in market capitalization to $812 billion in the past day. Based on CoinMarketCap, the dominance of Bitcoin is 49.67% at the moment. The volume of BTC rose 32.55% to $26.9 billion in the last day.

Technically speaking, BTC has a significant obstacle in keeping the present support level at $41,000. A break of this barrier could indicate a negative mood, but a hold could open the door for the continuation of a new, higher high.

Regarding ETH, it continues to be above the 20 EMA D. ETH must remain above $2,400 in order to maintain a positive trajectory; a decline below this mark could trigger a bearish shift.

With hope surrounding the potential licensing of exchange-traded spot bitcoin funds, the world’s largest cryptocurrency kicked off the New Year with a bang as Bitcoin surged beyond $45,000 on Tuesday for the first time since April 2022.

With its highest year performance since 2020, Bitcoin gained 156% last year and reached a 21-month high of $45,532. It is still far from the record high of $69,000 it achieved in November 2021, even though it was up 2.5% at $45,318 as of late.

After rising 91% in 2023, ether, the token associated with the Ethereum blockchain network, was 1.45% higher at $2,386 on Tuesday.

The main concern among investors has been whether the U.S. securities regulator will soon authorize a spot bitcoin ETF, which would attract billions of dollars in investments and open up the bitcoin market to millions more people.

In recent years, the U.S. Securities and Exchange Commission has denied many requests to introduce spot bitcoin exchange-traded funds (ETFs), citing concerns about market manipulation.

However, there have been more indications in recent months that authorities are ready to approve at least some of the 13 planned spot bitcoin exchange-traded funds (ETFs). It is anticipated that the decision will be made in early January.

If all goes as planned, the obvious question is whether this will lead to a sell-on-fact, buy-the-rumor playout or if it will go a further leg higher.

Growing expectations that major central banks will lower interest rates this year have also helped cryptocurrencies recover, dispelling some of the pessimism that had enveloped the market after FTX’s collapse and other 2022 crypto-business flops.

This year, the crypto industry is expected to increase significantly, mostly because to the inflow of investment capital from spot ETFs, the halving of Bitcoin, and more accommodating monetary policies globally and in the US.

Analytics Insight presents the top 10 current cryptocurrency prices on July 28, 2022

Crypto investors can get relief from constant crypto crashes in the most popular cryptocurrencies and crypto market. Bitcoin reached 23 thousand USD, while the market capitalization of cryptocurrencies reached 1 trillion USD after a long time. So here is a list of top ten cryptocurrency prices that bring significant profit in crypto wallets by making smart decisions.

At the time of writing, Analytics Insight lists the top 10 current cryptocurrency prices on July 28, 2022.

Bitcoin (BTC) – $23,130.29 (up 0.00%)

Ethereum (ETH) – $1,639.85 (down 0.47%)

Tether (USDT) – $1.00 (down 0.00%)

USD Coin (USDC) – $0.9999 (down 0.00%)

Binance Coin (BNB) – $268.47 (down 0.35%)

Binance USD (BUSD) – $0.9994 (up 0.01%)

XRP (XRP) – $0.3584 (down 0.04%)

Cardano (ADA) – $0.5071 (down 0.61%)

Solana (SOL) – $39.82 (up 0.10%)

Dogecoin (DOGE) – $0.06655 (down 0.32%)

According to CoinMarketCap, the global crypto market capitalization is $1.06t with a volume of $91.75 billion in the last 24 hours, an increase of 50.77%.

Disclaimer: The information provided in this article is the opinion of the author only and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial advice. Do your own research and consult a financial advisor before making any investment decisions.