The cryptocurrency market is currently struggling, with the majority of the top 10 altcoins seeing major declines. While Bitcoin (BTC) has shown some resilience, many altcoins are in the red, leading to a general feeling of uncertainty among investors.
Bitcoin, the market leader, is priced at $99,780, showing a slight 2.59% gain in the last 24 hours, but still not experiencing the expected bullish surge. Ethereum (ETH), at $3,104, has seen a 5.93% drop in the last 24 hours, signaling broader weakness across the altcoin market.
XRP ($2.85) has also faced a decline, despite an initial rally, down 6.47% in the past 24 hours. Similarly, Solana (SOL) has had a rough patch, with a 9.57% decrease over the past 24 hours and 18.75% drop in the past week. Binance Coin (BNB) has followed the downward trend, seeing a 3.45% dip.
Tether (USDT) and USD Coin (USDC), the major stablecoins, have remained stable at $1.00, but they are not benefiting from the market’s volatility. Other altcoins like Dogecoin (DOGE), Cardano (ADA), and TRON (TRX) have also struggled, showing minimal to moderate declines in the past 24 hours.
The total market cap of cryptocurrencies currently sits at $3.38 trillion, but the broader market sentiment remains weak. With Bitcoin dominance at 58.55%, many are waiting for the market to find direction, as investors are cautious in the face of the ongoing downturn. The Fear & Greed index sits at 54, hinting at a neutral stance amid uncertainty.
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