The cryptocurrency market is facing increasing uncertainty caused by macroeconomic and geopolitical shifts. Recent data indicates a 4.14% decline in total market capitalization, while trading volume has increased by 18.65% over the last 24 hours.
Decline in Crypto Market Capitalization
The total cryptocurrency market capitalization has reached $3.25 trillion after a 4.14% decrease. The trading volume over the last 24 hours is $160.34 billion, representing an 18.65% rise.
Major Price Fluctuations of BTC and ETH
Bitcoin ($BTC) has incurred a 2.94% loss in price over the past 24 hours, reaching $104,531.75, with a market dominance of 63.9%. Similarly, Ethereum ($ETH) has witnessed an 8.82% dip, with a current price of $2,515 and a market dominance of 9.3%.
Geopolitical Factors and Their Impact on the Market
Geopolitical tensions and macroeconomic developments are contributing to the broader crypto decline. The ongoing conflict between Israel and Iran is a significant factor, along with the collapse of hopes regarding the U.S. Federal Reserve's rate cuts, which has led to the exclusion of $1.15 billion from the crypto market.
Currently, the crypto market is exhibiting instability due to geopolitical conflicts and macroeconomic changes. Investors may consider shifting towards traditional assets in this situation.
