The cryptocurrency market has failed to supply any significant actions up to now 24 hours and is discovered kind of the place it was yesterday.
This contains Bitcoin, which continues to commerce beneath $17K.
Bitcoin Stagnates Beneath $17K
Extended intervals of diminished volatility usually are not typical within the cryptocurrency market and are often a precursor to an enormous transfer.
That stated, Bitcoin’s value has been trapped inside a reasonably slender vary over the previous couple of weeks, unable to interrupt out in any course. On the time of this writing, the cryptocurrency trades at $16,800 – precisely the place it was yesterday.
The BTC dominance additionally stays the identical as yesterday, highlighting the shortage of exercise from market contributors and the general state of stagnation.
Total Market in State of Excessive Worry
Many of the altcoins failed to supply any features too. On the considerably brilliant facet – they didn’t lower both.
Nearly all of them are charting slight losses or features however nothing noteworthy, as seen within the heatmap beneath.
Right this moment’s greatest performer is FXS, up 8%, adopted by Radix (XRD) – up 75.%. On the shedding facet of the spectrum, ImmutableX (IMX) is down 4.1%, adopted by BTSE – down 2.5%.
Data additionally exhibits that the general market sentiment has returned to a state of “excessive worry.” That is based mostly on quite a few elements, together with volatility (or the shortage of it), market momentum and quantity, and social media sentiment.
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Cryptocurrency charts by TradingView.
