Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), Polkadot (DOT), and Shiba Inu (SHIB) Price Analysis

Bitcoin remains the stalwart of the cryptocurrency market, holding a price of $64,197.27. Despite a slight decline of 0.40% over the past day

Bitcoin price remained above $64,000 on Monday evening, as the world’s largest cryptocurrency continued to trade in a narrow range.

BTC/USD was last trading at $64,197.27, down 0.40% in the past 24 hours. Despite the slight decline, Bitcoin had gained 12.58% over the past seven days, according to data from CoinMarketCap.

The token had hit a record high of $67,016.52 on November 8, and was set for a seventh session of gains in the past eight.

Despite the recent rally, Bitcoin remained far from its all-time high of $69,000, which was last seen in November 2021.

The token’s price had fallen sharply in December, and remained volatile throughout the first quarter of 2022.

Bitcoin price recovered in Q2, and had risen by over 50% since the start of the year.

The token’s recent rally was largely attributed to anticipation of further institutional adoption, as well as optimism over the upcoming halving event, which is expected to take place in 2024.

Among other top cryptocurrencies, ETH/USD rose 0.43% to $3,428.15, while SOL/USD was up 2.58% to $161.35.

XRP/USD fell 7.44% to $0.5493, and ADA/USD slipped 0.04% to $1.44.

The total market cap of cryptocurrencies stood at $3.24 trillion, as of 21:04 ET (02:04 GMT).

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