Today, the global crypto market is currently sitting at $2.04T and has seen a massive cutoff of 9.15%. However, the market volume increased by 49.26% over the last 24 hours. In the outlook, we will cover the week’s price movement summary and some of the notable events that led to the price fluctuation of some good crypto coins.

Bitcoin: BTC is now trading at $42,866.10, which is in red by 8.88% in the last seven days’ price. Furthermore, the price declined by 7.92% during the previous 24 hours. Bitcoin reached a high of $46,724.42 today.

Since the New Year, Bitcoin has lost over $60 billion from its market cap, which is almost 7-8% of the $877 billion market cap on January 1 to $815 billion on Thursday, January.

According to experts’ opinion, Immediately after the release of the minutes of the December meeting of the U.S. Federal Reserve, the cryptocurrency market plunged. In less than three hours, BTC saw a massive cut in its price from $46,000 to $42,700 on January 5.

Ethereum: Ether is trading at $3,360.79 and reached a high at $3,820.98 today. The price this week increased by 9.23% and is decreased by 11.83% in the last 24 hours.

ETH price is falling and is believed to go more down and reach close to $3200.

JPMorgan, the pro-crypto wall street giant, believes that Ethereum is losing its rank in the DeFi space due to fast upcoming competitors. According to Bloomberg, JPMorgan noted that if Etherum did not fasten its belt and work fast on its scalability issues, it would lose its dominance.

Ripple: XRP is currently trading at $0.7509. XRP. The price decreased by 9.87% in the last seven days and 9.47% during the previous 24 hours. XRP reached a high of $0.8299, looking at today’s price movement.

As soon as BTC’s price started sliding, other prominent coins— like Ethereum, BNB, Solana, ADA, and XRP—have also begun to fall sharply, losing between 3% and 5%.

Litecoin: LTC is currently trading at $134.51. The LTC market has been down by 8.73% in the last seven days and 9.39% over the past 24 hours. Today’s price high was recorded at $149.40.

After the down-channel breakout, the LTC has started moving sideways, making its pace with the low market volatility. While the buyers were holding the $143 support zone, the LTC price came down, breaking the zone.