Crypto Market Sees Slight Uptick as Bitcoin and Ethereum Experience Modest Gains
The crypto market is experiencing a slight increase, with the total market cap rising by approximately 0.7% to $3.06 trillion in the last 24 hours. Trading activity remains subdued, with 24-hour volume hovering around $95.5 billion. The price performance across major assets is mixed, with modest gains at the top and selective declines in large-cap altcoins.
Crypto Winners and Losers
Bitcoin (BTC) is trading at around $87,900, up approximately 1.3% from the last day, helping to anchor the broader market. Ethereum (ETH) is also up slightly, rising about 1.8% to $2,980. BNB (BNB) is also slightly higher, increasing about 1% to $855.
In contrast, several large-cap assets are under pressure. XRP (XRP) is down about 1.7% to $1.86, Solana (SUN) is down about 0.3% to $124, and Dogecoin (DOGE) is among the weaker performers in the top 10, falling about 4.7% to almost $0.124.
Bitcoin and Ethereum Price Analysis
Bitcoin is trading at around $87,880, showing a slight recovery after a volatile December. Recent price action suggests consolidation after a sharp mid-month decline, with BTC hovering in a relatively narrow range between around $85,000 and $89,000.
Ethereum is changing hands around $2,980 and is recovering after stabilizing above the $2,800 level. The chart shows ETH attempting to form a base after a sustained downtrend from October highs, with buyers stepping in on downturns but failing to convincingly push the price above resistance.
Crypto Market Sentiment and Flows
Crypto market sentiment remains firmly in the fear zone, with the Crypto Fear and Greed Index published by CoinMarketCap sitting at 29 at the time of writing.
U.S. Bitcoin spot exchange-traded funds (ETFs) saw net outflows on Monday, with products losing a total of $19.29 million. U.S. Ether ETFs also saw net outflows of $9.63 million in the last trading day.
