The global cryptocurrency market has experienced a significant drop in prices over the past day. Major tokens such as Bitcoin, Ethereum, and Ripple have shown substantial declines, increasing bearish sentiments among investors.
Bitcoin (BTC) Situation
Bitcoin's price has lost 2.77% within the last 24 hours, with a trading volume of $37.231 billion. Over the past week, it has dropped by 5.38%, and its market capitalization is $1.962 trillion, with a market dominance of 57.68%. The MACD indicator shows a rising red histogram with a negative crossover, but the 50-day EMA supports the BTC price chart, indicating mixed sentiments.
Current Ethereum (ETH) Trends
The ETH coin price has dropped 4.49% in 24 hours and 6.52% over the last seven days. Over the past month, the price has fallen by 10.35%, with a YTD return of -7.08%. The RSI shows a sharp drop into the oversold range, highlighting increased negative market influence.
Ripple (XRP) Market
The Ripple price has decreased by 10.51% in 24 hours, yet it has jumped 17.79% over the last 30 days, highlighting strong bullish prospects in the long term. The MACD indicator shows a consistent decline, indicating increasing bearish sentiment for the third-largest cryptocurrency in the market.
The overall decline in major cryptocurrencies underscores challenging market conditions. Investors continue to monitor changes closely, anticipating potential recoveries.
