Today, the crypto market shows a decline in sentiment with a decrease in total market capitalization and trading volume. Amid these events, Bitcoin is experiencing the highest volatility in the past six months.
Market Overview
The total market capitalization of cryptocurrencies decreased by 1.27%, reaching $2.77 trillion. The trading volume also dropped by 27.83%, amounting to $75.46 billion, indicating bearish sentiment in the industry. The Fear and Greed Index fell to 27, reflecting investor skepticism.
Bitcoin Volatility and Its Impact
Bitcoin's volatility reached a six-month high, driven by global macroeconomic uncertainties. Its current price is $84,479.08, down from its 24-hour high of $86,481.36. Bitcoin's 24-hour trading volume decreased by 31.63% to $25.31 billion.
Altcoin Situation and Market Leaders
Altcoins followed Bitcoin's lead, also showing declines. Ethereum fell by 2.05% to trade near $1,973. XRP declined by 1.12% to $2.41, and Solana dropped by 4% to $127.91. Market gainers include KAVA (7.87%), BERA (6%), and BONK (3.66%). Among the top losers are PI (-20.69%), CAKE (-6.21%), and EOS (-5.53%).
The crypto market remains challenging with increased volatility and bearish sentiment. Investors remain cautious as they assess the macroeconomic environment and the dynamics of major cryptocurrencies like Bitcoin and Ethereum.
