- The global crypto market cap remains stationary through the night at $2.35T.
- Bitcoin falls back below the $50k mark, making investors groan collectively.
- Ethereum lingers a little above $4,000, dropping 0.43% in price but holding its own.
- Binance Coin remains fixed at around $545, neither taking a step forward nor back.
- Cosmos (ATOM) and Fantom (FTM) display 14.32% and 12.44% gains.
So far, we have not seen earthshaking gains or losses in the crypto market after the first bearish run of the winter season at the beginning of December. Since then, the crypto market investors have remained restless, keeping an eye on cryptocurrency news to ensure they’re aware of the right moment to strike. Much like most of the stock market, the crypto market is restless. People’s livelihoods may be at stake depending on every bearish and bullish run after investing thousands into cryptocurrency.
There is only one thing we can do to see how things unfold: wait patiently and remain vigilant. As of now, we’re seeing the aftermath of a small bullish run that has led us to today’s bearish run. The crypto market hasn’t suffered significant losses, but the crypto market cap is down by 0.52%, reaching $2,352,268,037,630, while the trading volume suffers by 6.38%. The market cap seems to be having trouble picking up the pace, almost as if it is caught in quicksand. However, all the crypto market needs is a little push in the right direction.
Bitcoin suffers a 1.72% loss in one night.
Even though most of the crypto market is on its guard, investors still couldn’t help hoping the bullish run yesterday would push Bitcoin towards a firmer position in terms of market value. However, before any significant changes could be made, the demand for Bitcoin has dropped once again, taking its market value with it along with the market cap. Interest in the crypto market has been scarce ever since the bearish market began making news.
People are warier about the reliability of cryptocurrency, and the bearish runs show the downside of the crypto market. It is understandable why there hasn’t been much crypto traffic since the recent bearish run. As of now, Bitcoin has suffered a 1.72% loss and reached a price of $49,820. It has not regained its footing after the December bearish run but is trying to keep up with the market fluctuations. Thanks to the drop in market value, Bitcoin’s market cap has also seen losses of 2.25%, down to $941,108,551,816
Ethereum and BNB remain rooted to avoid sinking.
The crypto market is similar to a pit of quicksand right now, as cryptocurrencies begin losing their hard-earned values once more. However, Ethereum hasn’t made any sudden movements to prove that it is doomed to sink below the surface. It has remained with its head above the $4,000 mark but has dropped 1.30% in the last twenty-four hours. It currently trades at $4,040 while its market cap lingers around $480,314,234,834.
The case is the same for Binance Coin. The third top cryptocurrency had dropped to $537.50 price last night but has managed to pick itself back up a few margins and has risen above $540. Binance has always been known for its versatility, never indeed staying down for long before bursting back up, always putting up a fight when it comes to bearish runs. At the time of writing, Binance’s market value resides around $543.43, with its market cap hanging at $90,701,161,950.
Cosmos and Fantom top the gainers’ list again
Most people are familiar with Cosmos’ name throughout the crypto market, known by its crypto token ATOM. The company brings itself out as a project to eliminate all the worries faced by proof-of-work blockchain protocols. It has risen exponentially over the year and has topped the gainers’ list many times before. Today is no different; ATOM has gained 14.62% value in the last twenty-four hours, reaching a price of $31.36.
Fantom is second on today’s gainers’ list. Fantom is a directed acrylic graph smart contract platform that provides DeFi services to developers. The cryptocurrency ranks #33 among the top 100 on the crypto market thanks to its $5,900,982,575 market cap. After gaining 12.44% on the last day, FTM trades at $2.31.
The rocky surface of the crypto market is as jagged as almost every cryptocurrency begins to show signs of bearish runs. Bitcoin’s always on the top of the list of cryptocurrencies affected by bearish runs, given that it makes up 40.37% of the crypto market. However, red charts are beginning to pop up among the top 100 cryptocurrencies, making investors worry. Will the bearish run cease before it does severe damage? Or will we see lows never recorded in 2021 before and witness the cryptocurrencies’ downfall? Only time will tell.