Crypto Market Update: Market Cap Holds $4 Trillion Despite Volatility
The global cryptocurrency market is witnessing a slight pullback today, with the total market capitalization standing at $4.00 trillion, down by 0.87% in the last 24 hours. The CMC100 index also reflected the downturn, slipping by 0.71% to $248.36.
Bitcoin continues to dominate the market with a strong value of $1,115,425.42, while Ethereum follows with $4,812.08. Despite these high valuations, the overall sentiment remains cautious. The Fear & Greed Index is currently at 53, indicating a state of "neutral to mild greed" where traders are neither overly fearful nor overly greedy.
The Altcoin Index stands at 51/100, showing a balanced performance between Bitcoin dominance and altcoin activity. Short-term volatility has kept the market fluctuating between $3.97T and $4.03T over the past day.
Analysts suggest that global macroeconomic factors, regulatory uncertainties, and investor profit-booking could be contributing to this minor dip. However, with the market still holding strong above $4 trillion, the long-term outlook remains positive.
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