Minh Nhi
Minh Nhi
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The cryptocurrency market today is experiencing a noticeable correction. The global market capitalization is currently hovering around the $2.4 trillion mark, down about 1.1% in the past 24 hours. The fear and greed index has retreated to a neutral level as investors begin to take profits after a period of rapid growth. Notably, Bitcoin's (BTC Dominance) market share is rising to 58.5%, indicating that capital is flowing out of higher-risk Altcoins in search of safety in the leading asset.
Key currency movements
• Bitcoin (BTC): Trading in the range of $68,000 - $69,000. After failing to maintain higher levels, BTC is striving to establish a new support zone for accumulation.
• Ethereum (ETH): Showing a slightly less pronounced decline compared to the overall Altcoin market, currently hovering around $2,150. The ETH/BTC exchange rate is indicating a slight weakening of the buying side on this largest smart contract network.
• Market highlights: While most of the market is in the red, some individual projects are still experiencing strong breakthroughs. EdgeX has recorded an impressive growth of over 20%, reflecting the appeal from community campaigns and its own ecosystem. Anonymous coins like Zcash (ZEC) have also seen a slight recovery of about 5%.
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