The cryptocurrency market recorded positive dynamics over the past 24 hours, APA-Economics reports, citing CoinMarketCap.
Bitcoin rose by 2.12% to USD 70,778, while Ethereum slipped slightly by 0.05% to USD 2,083.
Price movements among other major cryptocurrencies in the top-10 were mixed. Tether (USDT) remained unchanged at USD 0.9992, XRP gained 1.31% to USD 1.44, while BNB fell by 0.45% to USD 640.96.
USDC declined marginally by 0.01% to USD 0.9998, Solana dropped 0.42% to USD 86.97, and TRON advanced 0.80% to USD 0.2789. Dogecoin lost 1.34%, falling to USD 0.096, while Bitcoin Cash increased by 1.35% to USD 528.
The total capitalization of the cryptocurrency market rose by 1.4% over the past 24 hours to USD 2.4 trillion. The CMC20 index also increased by 1.57%, reaching 145.25 points.
Despite the gains, risk appetite in the market remains weak. The Fear & Greed Index stands at 9, indicating that an environment of “extreme fear” among investors persists.
Analysts attribute the short-term market rebound to a technical recovery following sharp price declines in recent days, as well as investors taking advantage of lower prices to enter buying positions.
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