The prices of the vast majority of major digital assets declined over the past 24 hours in the cryptocurrency market, APA-Economics reports.
The total market capitalization fell by 0.25% compared to the previous day, dropping to 2.07 trillion US dollars.
The CoinMarketCap 20 Index (CMC20) also declined by 0.53% to 121.04 points.
The largest cryptocurrency, Bitcoin, fell by 0.64% over the past 24 hours to 59,679.97 US dollars. Meanwhile, Ethereum rose by 0.24% to 1,574.99 US dollars despite the overall market decline.
Among other major cryptocurrencies, BNB declined by 0.94%, Zcash by 4.42%, Monero by 1.72%, Bittensor by 1.03%, and Bitcoin Cash by 0.04%.
The Fear & Greed Index, which reflects the sentiment of market participants, remained at 16 points, indicating that “extreme fear” continues to prevail in the market.
Analysts believe that the weak market performance is linked to investors’ cautious approach toward riskier assets, profit-taking, and the impact of uncertainty in global financial markets on cryptocurrencies.
