Crypto Price Today (Dec 06th, 2024): Bitcoin Drops Amid Extreme Greed

The cryptocurrency market has faced a notable pullback, with the global market cap dipping by 2.23% to $3.6 trillion. This decline aligns with a reduction in trading volumes, which dropped by 5.86% to $320.02 billion. Despite the downturn, the Fear & Greed Index held firm at 81, indicating persistent market optimism underpinned by extreme greed.

Bitcoin Sees Declines as ETFs Attract Inflows

Bitcoin (BTC) recorded a 4.49% drop over the past 24 hours, settling at $97,924.87. The flagship cryptocurrency saw trading volumes rise by 13.70% to $128.54 billion, suggesting heightened activity amid price volatility. Bitcoin’s dominance remains strong at 53.86%. Interestingly, 9 out of 11 Bitcoin ETFs reported positive inflows, reflecting institutional interest despite the price correction.

Explore our comprehensive Bitcoin Price Prediction to uncover BTC’s potential path forward.

Altcoins Deliver Mixed Signals

Among altcoins, Ethereum (ETH) posted a 1.11% gain, reaching $3,893.07, while Solana (SOL) and XRP also climbed, gaining 1.77% and 0.93%, respectively. This highlights the resilience within the altcoin space, even as the broader market faces pressure.

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Top Performers: Dydx and WLD Shine

Dydx emerged as the top gainer, surging 30.92% to $2.35. It was followed by WLD, which climbed 21.61% to $4.01, and BGB, up by 21.43% to $2.16. These performances underscore investor appetite for high-growth opportunities despite overall market sluggishness.

Decliners: VET and SHIB Struggle

On the downside, VeChain (VET) slipped by 5.40% to $0.06593, while Bitcoin (BTC) and Shiba Inu (SHIB) fell by 4.50% and 4.15%, respectively, reflecting broader market corrections.

The crypto market continues to exhibit a dynamic mix of gains and losses, with Bitcoin’s sharp correction contrasting the resilience of select altcoins. Investors remain on edge, balancing optimism from institutional activity against broader market uncertainties.

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