Bitcoin experienced significant price fluctuations, plummeting to $98,286.21 during late Asian trading hours before bouncing back to reclaim the $103,000 mark. All this volatility during what is hailed as a strong Bitcoin season, based on the altcoin season index. Conversely, a wall of worry was ever-present, illustrated by the Fear & Greed index. The greater crypto scene followed suit during this period, most significantly seen in the cryptocurrency market’s overall valuation dropping by more than half.
Market Overview
The global crypto market is valued at $3.16 trillion right now. The market cap has changed by -8.19% over the last 24 hours. The daily trading volume is $134.76 billion.
Bitcoin’s market cap is $2.05 trillion, 64.7546% dominance. The altcoin season index is at 16 as of writing, meaning that Bitcoin is beating out altcoins this season.
Bitcoin's Price Action
Bitcoin price crash pulling valuations down to $98,286.21 at the very end of Asian trading hours raised alarms among investors. Yet, the cryptocurrency proved to be strong enough, pulling off an impressive recovery to reclaim over $103,000. That’s a fare increase of more than 5%.
Bitcoin’s Fear & Greed index is currently at 37, indicating fear in the market. This psychological bias tends to bleed into traders’ decision-making processes and is a driver behind exacerbated volatility. Even with the recent recovery in prices, this kind of fear underneath the surface means that the market is still skittish.
Altcoin Performance
We saw that after Bitcoin made its strong moves, many altcoins followed suit with big price movements of their own. XRP was up by a modest 9% in price as Solana took a bigger leap with 11.5% gain. These altcoin gains are a bullish indication that even in a bearish market environment, there are areas of strength.
The appraised value of an unidentified property owned by the Town of Southbridge is $103,259.43. Its current 24-hour volume is $59.58 billion, representing a change of -8.87%.
