The cryptocurrency market has seen a slight retreat following a robust surge the previous day. As of the latest update, the total market capitalization is approximately $3.6 trillion. This minor setback has also led to a decrease in trade volumes by 5.86%, bringing them down to $203.43 billion. The declining figures have dampened investor confidence, as reflected in the Fear & Greed Index, which now indicates a “Greed” score of 78, a dip from the previous day’s score of 81.
Bitcoin Price Supported by ETF Inflows?
Bitcoin, after reaching a 24-hour peak of $102,524.91, has seen its price drop to $99,972.22 at the time of writing. This movement was influenced by a 16.04% reduction in trading volumes, which now stand at $68.47 billion. In contrast, Bitcoin ETFs have captured attention with significant inflows. Leading the pack, BlackRock’s “IBIT” ETF recorded an inflow of $431.6 million, followed by Grayscale’s “BTC” ETF with $110.8 million. Altogether, Bitcoin ETFs experienced a net inflow of $597.5 million, marking a positive 11-day streak.
Curious about Bitcoin’s potential to reach $110,000 by December? Discover more in our Bitcoin Price Prediction.
Altcoins Provide Mixed Signals
The altcoin market is sending mixed signals, with Ethereum, the largest altcoin, experiencing a slight decrease of 0.56% to $3,911.47. Meanwhile, Solana and XRP incurred more significant declines of 2.50% and 4.17%, respectively. Despite the downturn in major altcoins, the market has seen some top performers.
If you’re interested in Ethereum’s future price prospects, explore our Ethereum Price Prediction.
Noteworthy gainers among the top 100 altcoins include VIRTUAL, LDO, and CORE, which increased by 12.88%, 8.80%, and 6.24%, respectively. Conversely, MOVE, ALGO, and TAO experienced declines exceeding 9%, underscoring the volatility among smaller-cap tokens.
FAQs
The Fear & Greed Index stands at 78, reflecting a “Greed” sentiment in the market.
Which cryptocurrency gained the most in the past 24 hours?
VIRTUAL led the gainers with a 12.88% increase.
How much inflow did Bitcoin ETFs record in the last 24 hours?
Bitcoin ETFs saw a total inflow of $597.5 million, primarily driven by BlackRock and Grayscale.
