$BTC $XRP $ETH

Bitcoin's Dominance Holds at 61% Amid Rising Fear Index

Bitcoin (BTC) has maintained its dominance index at 61%, despite a fear and greed index that has dropped to 29, indicating high fear among cryptocurrency market participants. Bitcoin's price briefly fell to $88,739 in the past 24 hours, causing other altcoins like Ethereum (ETH) and XRP (XRP) to experience significant price drops.

According to Finnhub data, Bitcoin's current price is around $89,894.45, with a 24-hour price change of -5.87%. Meanwhile, Ethereum (ETH) has fallen 12.4% to $2,383, and XRP (XRP) has dropped 13%.

The uncertainty surrounding US President Donald Trump's regulatory stance and Tesla CEO Elon Musk's plans for major changes at the Federal Reserve are believed to be the main causes of the price drops in Bitcoin and other altcoins. Economists warn of the risks of stagflation, low growth, and high inflation, which could have a negative impact on Bitcoin.