Crypto market: The indicators are in red!

The majority of crypto currencies are currently showing a slight decline. Bitcoin, like ether and other altcoins, are struggling to stabilize. Enough to put the entire crypto community on alert. Overview !

Bitcoin, Ethereum, BNB, SOL… the big collapse!

The debates and analyzes around spot Bitcoin ETFs do not fail to impact the price of the main cryptocurrencies. Bitcoin could rise to $50,000 this weekdares to predict Matrixport.

In other words, the imminent approval of these financial products is generating all a host of signs of boiling in the crypto market.

Except that this same market has a downside: volatility.

The crypto market is trading in the red today (January 3).

The overall market capitalization of cryptocurrencies today is 8.82T, a change of 1.0% over the last 24 hours.

Bitcoin is down ~1%, while Ethereum and Cardano are down ~2%.

Solana and Avalanche are down ~6% each. »

See this article from Forbesthe cryptocurrency market will experience a decrease during the month of January 2024. Because the yo-yo displayed by most currencies (Ethereum, Bitcoin, BNB, etc.) at the moment is the result of nuanced market sentiments. First dictated by fear, knowing that the damage from the FTX storm is still apparent, they allowed themselves to be influenced by greed and also by neutrality.

However, a large part of cryptocurrencies have been boosted by bitcoin rally since October 23. The queen of cryptos did not remain indifferent to the relaxation experienced by the macroeconomic situation, the drop in inflation, the reduction in key FED rates, the rise in the price of gold, the bitcoin halving in April 2024 and also spot Bitcoin ETFs.

However, this tweet from CoinGecko seems contradictory for this pretend bull run.

The total capitalization of the cryptocurrency market is down 7.2% to 1.7T today. »

Apparently, there are very clear differences compared to the images attached to the tweet from Satoshi Talks and CoinGecko. Recent data from CoinGecko highlights a decline of 6.55% for BTC and 7.81% for ETH.

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