The crypto market witnessed a 2.89% drop in capitalization to $3.13 trillion today, while trading activity increased by 8.71% to $105.22 billion. The Fear & Greed Index remains at 35, indicating 'Fear' among market participants.
Bitcoin: Holding at $95K Level
Bitcoin remains stable at the $95,000 mark despite a 2.57% drop over the last 24 hours. Increased short positions by 'whales' suggest caution among large investors. Bitcoin's dominance in the market is solid at 60.43%, demonstrating its continued influence.
Altcoin Price Declines
Ethereum has dropped by 3.75% in the past 24 hours, trading at $2,604.56. Solana saw a 4.38% decrease to $195.51, while XRP fell by 3.48% to $2.41. The broader altcoin market reflects a bearish sentiment as traders proceed with caution.
Top Gainers and Losers
Despite market turbulence, some cryptocurrencies have gained. FTX Token rose by 5.11% to $2.07, Sonic increased by 2.96%, and Monero gained 1.76%. On the downside, ENA plummeted by 11.58% to $0.4356, with CRV and TIA also experiencing double-digit declines.
The crypto market is experiencing challenging conditions; however, the high trading activity reflects ongoing market interest. Despite overall declines, there are signs of a struggle for stability.
