Institutional Investors Stop Accumulating Stablecoins, Bitcoin Prices Retraces

Bitcoin and other top crypto prices were seen experiencing uniform movements on Monday (12/8/2024). The majority of top cryptos were seen back in the red zone.

According to data from Coinmarketcap, the crypto with the largest market capitalization, Bitcoin (BTC) is weakening again. Bitcoin fell 3.30 percent in 24 hours, but still strengthened 1.01 percent for the week.

Currently, the price of Bitcoin is at USD 58,821 per or equivalent to IDR 936.7 million (assuming an exchange rate of IDR 15,925 per US dollar).

Ethereum (ETH) also weakened. ETH plunged 1.85 percent in the past day and 5.12 percent in a week. With that, ETH is currently at the level of Rp 40.7 million per coin.

The next crypto, Binance coin (BNB) has plunged again. In the last 24 hours BNB has fallen 3.61 percent, but is still up 1.37 a week. This makes BNB priced at IDR 8.03 million per coin.

Cardano (ADA) is back in the red zone. ADA is down 4.97 percent in the last 24 hours and 4.84 percent in a week. That puts ADA at Rp 5,234 per coin.

Meanwhile, Solana (SOL) also weakened. SOL fell 8.11 percent in a day, but still strengthened 2.73 percent for the week. Currently, the price of SOL is at the level of IDR 2.25 million per coin.

XRP is still seen in the red zone. XRP corrected 5.65 percent in 24 hours, but still strengthened 5.36 percent a week. With that, XRP is now priced at IDR 8,804 per coin.