However, the cumulative market capitalization of all crypto assets added approximately $10 billion per day and totalled $1.080 trillion. Since then, however, assets have decelerated to approximately $23,000.
Many altcoins have outperformed over the past 24 hours, including shiba inu, which has skyrocketed by two figures.
Bitcoin Drops Back Down to $23K
Despite losing some ground at the end of January, BTC still closed it well in the green, posting its best month since October 2021 with gains of roughly 40%. February began on a quieter note, with the crypto sitting under $23,000.
All eyes were on the Federal Reserve on February 1 when it concluded its first FOMC meeting of the year, increasing the key interest rates by 25 basis points. Bitcoin has not reacted at the beginning, unlike previous hikes, and just dipped at $22,800 later.
However, the bulls intervened in the hours that followed and pushed the asset northward, earning more than $1,500 at some point and recording its highest price since the middle of August.
However, the BTC has not continued to increase despite another attempt to decisively overcome $24,000 and has come down to about $23,000, where it is now also located.
However, BTC did not succeed in continuing to rise despite another attempt to decisively overcome $24,000 and fell back to about $23,000, where it is currently located.
SHIB Takes the Main Stage
Most altcoins have posted more impressive gains in the past 24 hours, led by Shiba Inu. It continues to have a market capitalization of approximately $450 billion, but its dominance over the alts is down by over 1% in the past week or so to 41.6%.shib takes the main stagemost altcoins have posted more impressive gains in the past 24 hours, shiba inu-controlled. The second most important souvenir coin climbed nearly 11% on a daily scale to $0.000014.
Next in line is okb, which is over $41 as a result of a five percent increase. The polygon's native cryptocurrency is up 3.5% and is just above $1.2. ethereum, wedge binance, cardano, dogecoin, solana, polkadot, litecoin and avalanche are also slightly in the green now.
Ethereum, BINANCE Coin, Cardano, Dogecoin, Solana, Polkadot, Litecoin and Avalanche are slightly green now as well.