Crypto Market Remains in Negative Territory, Downturn in Momentum
On Saturday, September 23, the cryptocurrency market continued to stay in the negative territory, with investors adopting a cautious approach. The recent performance of the market indicated a shift in traders’ sentiment, evident from the overall downturn in momentum. Additionally, the crypto market fear and greed index stood at 39, reflecting a prevailing “fear” condition.
Bitcoin and Altcoin Performance
As of writing, the price of Bitcoin was $26,543.14, experiencing a 0.35% decline over the past 24 hours. The volume of Bitcoin also slumped by 25.71% to $10.2 billion. While the week had been relatively favorable for Bitcoin, with a rebound from its recent drop at $25,000, it struggled to maintain its upward momentum due to volatile trading in the broader market. Other cryptocurrencies, such as Solana and BNB, also witnessed declines in price and volume.
Notable Performances and Market Cap
Ethereum’s price dropped below $1,600, experiencing a 0.7% decrease from the previous day. Meme coins like Dogecoin remained relatively flat, while Shiba Inu saw a modest surge of 0.97%. Most altcoins followed Bitcoin’s downward trajectory, with minor daily losses. The global crypto market cap decreased by 0.33% over the last 24 hours to $1.05 trillion, accompanied by a significant decrease in volume.
Top 4 Cryptos and Their Performance
Pepe Coin (PEPE) surged by 11.43% to $0.0000006845, with a one-day volume increase of 377.58% to $152.74 million. Theta Network (THETA) rose by 9.02% to $0.6475, while Immutable (IMX) declined by 8.23% to $0.6112. MultiversX (EGLD) slipped by 2.72% to $25.04. These cryptocurrencies displayed varying performances, influenced by recent market trends and developments within their respective projects.