The crypto market today has been jittering amidst the ongoing turmoil caused by FED rate cuts and liquidations. With an intraday drop of 8.71% the market cap at the time of press is at $3.22 trillion. Despite the steep fall, the trading volumes have shot up 30.14% to peak at $341.17 billion.
However, the Fear & Greed Index now stands at a “Greed” score of 62, cautioning optimism amongst market players, even as prices tumble. Amid the ongoing turbulence, Bitcoin and Ethereum have taken a major step back, sparking concerns about the year-end targets.
Bitcoin has been experiencing rough waters since yesterday. At the time of press, it has shed 7.89% to reach a price tag of $93,937.54. The current correction did result in traders making positions, which led to an intraday rise of 24.14% in trading volumes to reach $118.97 billion. That being said, Bitcoin enjoyed a lion’s share of the market at 57.79%.
For insights into Bitcoin’s future, explore our Bitcoin Price Prediction.
Ethereum witnessed a sharp decline in its price, falling 12.09% to trade at $3,234.16, one of the steepest falls among major altcoins. Solana and XRP reported notable losses at 11.41% and 9.24% to $3,234.16 and $2.16 respectively.
For Ethereum’s detailed analysis, check out our Ethereum Price Prediction.
The global cryptocurrency market is down 8.71% over the last 24 hours, with heightened trading activity signaling investor caution amid market turbulence.
MOVE, HBAR, and MNT led the market gains, with MOVE achieving a notable 10.93% increase in the last 24 hours.
Bitcoin’s dominance rose to 57.79%, reflecting a shift in focus to more established cryptocurrencies as the market faces broader corrections.
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