The cryptocurrency market is experiencing mixed trading
The cryptocurrency market is seeing a mix of gains and cuts in trading. Bitcoin, BNB, Tron, and Shiba Inu are trading with gains, while XRP, Litecoin, Cardano, and Polkadot are trading with cuts.
The crypto market is under slight selling pressure
In the last 24 hours, the crypto market has experienced slight selling pressure. The crypto greed and fear index is up by 2 points and is currently in the neutral zone with a score of 54/100. The market, particularly BTC, seems to be unaffected by macro developments.
Bitcoin and Ethereum are trading higher
Bitcoin (BTC) has risen 0.55% to $29,180, while Ethereum is also trading higher above the $1,800 level. The total volume in DeFi is $2.41 billion, accounting for 8.31% of the total crypto market 24-hour volume. The volume of stablecoins is $27.03 billion, representing 93.14% of the total crypto market 24-hour volume.
The global cryptocurrency market cap is marginally higher
The global cryptocurrency market cap is trading marginally higher at around $1.16 trillion, a 0.08% increase in the last 24 hours. Bitcoin’s market cap is around $567 billion, with a dominance of 48.73%.
Bitcoin is range-bound due to lack of fresh money flowing in
Bitcoin has been range-bound between $29,000 and $29,500 for the past 10 days. This is likely due to a lack of fresh money flowing into the crypto market. Investors are waiting for more regulatory clarity and the potential approval of a Bitcoin ETF in the United States.
Hot Take: Lack of fresh money and regulatory uncertainties are keeping Bitcoin in a range-bound state
The lack of fresh money flowing into the crypto market and regulatory uncertainties are keeping Bitcoin in a range-bound state. Investors are waiting for more clarity before making significant moves. However, despite the overall market being immune to macro developments, it remains to be seen how long this range-bound period will last.
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