Crypto Market Outlook: Bullish or Bearish Ahead?
The current value of the global cryptocurrency market is $3.97 trillion, 2.96% slightly changed from the previous day. Total cryptocurrency trading volume on the last day is at $210.44 Billion. Bitcoin dominance is at +58.80% and Ethereum dominance is at +11.44%.
Major Crypto Market Events To Watch
Crypto Market Fear and Greed Index:
Over the last 24 hours, the “Fear and Greed Index.” Presently holding at 68 on a scale ranging from 0 to 100, the current crypto market sentiment reflects a sense of optimism. With a brief spike into Greed one week ago, the sentiment of the crypto market has remained steadily in Greed over the past month.
Most recent update on the crypto market:
-
The current price of Bitcoin is $116,589 USD, down 1.03% over the previous day. The 24-hour decline in Bitcoin is a result of profit-taking following the $120,000 resistance level, which is incresed by altcoin rotation and heavy long liquidations.
-
Bullish technical momentum, an upgrade proposal for the gas cap, and an increase in institutional ETF inflows are the main drivers of Ethereum’s 4.16% price increase in only one day.
-
Right now, the three most popular cryptocurrencies are Arcblock, MANTRA, and Non-Playable Coins. The price of Arcblock, MANTRA, and Non-Playable Coin all had price changes of 8.7%, 44.7%, and 8.8%, respectively, during the last day.
-
Solana ($SOL) and Binance ($BNB), among other well-known cryptocurrencies, had mild increases.
-
Dogecoin is now trading at $0.270324 USD, up 11.27% over the past day. Technical momentum, corporate treasury excitement, and whale-driven liquidity all contributed to Dogecoin’s rise.
-
The news of a Google Cloud alliance and a technical breakout over significant resistance caused MANTRA (OM) to rise 45% in a single day. Today’s current MANTRA price is $0.345273 USD, and the trading volume for the day is $972,315,771 USD.
Major Worldwide Crypto Market News Update:
-
According to FT, the London Stock Exchange Group is thinking about introducing 24-hour trading as exchanges compete to provide access due to growing demand from small investors who are active outside of regular hours.
-
Dogecoin has joined the party, now valued at $40 billion, while Ethereum is trading looking like the total US debt has suddenly reached $50 trillion.
-
In celebration of its tenth anniversary, Ethereum introduces “The Torch” NFT, a commemorative token that pays tribute to the individuals and principles that influenced the platform’s early years.
-
President Trump posts an 8 min Bitcoin explanation on his Truth Social account.
-
In an interview with Bankless,Tether CEO Paolo Ardoino explains that stablecoins, like USDT, have been gaining popularity due to their ability to provide value preservation, remittances, and everyday payments during economic downturns.
-
Vitalik Buterin claims that over half of the vote is in favor of raising Ethereum’s L1 gas cap from the current 37.3M to 45M.
-
US Treasury Secretary Scott Bessent advises Trump against removing Fed Chair Jerome Powell due to strong economic performance, potential rate cuts, legal and political risks, and Powell’s May term ends.
The cryptocurrency space remains strong and is presently valued at $3.97 trillion due to positive mood and selective altcoin rallies. Ethereum and Dogecoin showed strong momentum despite Bitcoin’s little dip, while the Fear & Greed Index, which is now at 68, shows that crypto market optimism is still high. Important indicators of continued volatility and potential in bitcoin include whale behavior, ETF inflows, and world events.
Disclaimer: Coingabbar’s guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments are for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
