Cryptocurrency Market Sees Significant Decline
The global market capitalization of cryptocurrency has decreased by 2.2% in the last 24 hours, which, according to the latest data, is $3.83 trillion. The trading volume is up to $237.1 billion, but the most important digital assets remain under pressure because the mood of the investors weakens.
Krypto Winners and Losers
At the time of writing, nine of the 10 top 10 cryptocurrencies after market capitalization are in red. Bitcoin (BTC) has dropped by 2.1% to $109,252 a day, which has dropped by 6.6% in the past week. Ethereum (ETH) has dropped by 3.3% in the last 24 hours, acted at $3,895 and recorded a weekly loss of 13.9%. Solana (Sol) leads the loss of the day among the most important assets and dropped 4.6% to $193.51 and extended the 7-day decline to 20.7%.
Key Statistics
The CMC Crypto Fear and Greed Index is now 32 and slips into the “Angst” category after it floats for weeks on the “neutral” territory. The index fell from 41 and last week of 52 yesterday, which reflected a growing discomfort among investors. Bitcoin acts at $109,027 at the time of writing, largely flat the day after a severe decline in the last heights.
Bitcoin Faces Potential Correction
Bitcoin shows signs of a deeper correction, whereby long-term owners recognize profits at levels that are typically near market cycle tips. According to Glassnode, 3.4 million BTC indicates the exhaustion of investors in realized profits and slowing down the ETF inflows after the recently fed interest rate reduction.
Regulatory Investigation
In the meantime, US supervisory authorities are investigating unusual share price movements before public announcements of over 200 companies that are planning crypto financial strategies. The SEC and Finra examine potential violations of insider trade rules, especially with regard to the selective exchange of non-public information.
