Crypto Market Today
Crypto Market Overview: The global cryptocurrency market saw a downturn today, dropping 1.54% with a total market cap of $2.29 trillion. Trading volume also fell sharply, down 17.42% to $69.15 billion in the last 24 hours. The Fear & Greed Index remains neutral at 56, reflecting market indecision amid broader uncertainty.
With geopolitical tensions on the rise and electoral uncertainty in the U.S. (Trump leading with 63.5% odds over Vice President Harris at 36.2%), investors are treading carefully. This has led to risk aversion among large investment funds, many of which are currently avoiding volatile assets like cryptocurrencies.
Bitcoin dropped 1.48% to $66,345.18, while its 24-hour volume saw a significant 27.17% decrease. This could suggest traders are waiting for clearer signals before making their next moves. Ethereum followed, falling 2.17% to $2,577.88, with Solana and XRP also down 1.46% and 1.41%, respectively. The declines across major coins highlight growing market uncertainty.
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Not all tokens struggled today. MEW led the pack among the top 100 gainers, rising by 4.90%, followed by Gala with a 2.50% uptick and Jupiter gaining 1.69%. However, several altcoins faced sharp losses. Apecoin tumbled 15.88%, Aptos dropped 9.09%, and dYdX declined by 8.61%, reflecting broader market hesitancy.
With the Fear & Greed Index stuck at neutral, the market is in a wait-and-see mode. Whether this is a correction or merely a pullback will likely become clearer in the coming days, as investors watch for potential catalysts or signs of recovery.
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