Crypto News Today Oct 23rd 2024 Fear Greed Index in Equilibrium as Bitcoin Experiences a Dropu2014An Adjustment or Retraction

Today’s Cryptocurrency Market:
The global cryptocurrency industry has experienced a slight decrease of 0.97%, resulting in a total market capitalization of $2.31 trillion. While the 24-hour trading volume has decreased by 14.81% to $71.28 billion, the Fear & Greed Index remains neutral at 56. Market participants are uncertain whether this recent downward trend is a temporary pullback or a sign of a larger correction on the horizon. These declining numbers indicate a sense of caution among investors, particularly as geopolitical and electoral tensions continue to escalate in the United States.
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Bitcoin’s Performance Today: Caution Surrounding ETF Outflows
Bitcoin, maintaining its dominance at 57.35%, experienced a minor drop of 0.73%, bringing its price to $67,036.01. The ongoing uncertainty can be attributed to U.S. spot Bitcoin ETFs, which saw net outflows of $79.12 million on October 22. Despite this, long-term Bitcoin holders remain confident, as accumulation wallets now hold over $194 billion worth of BTC.
Interested in knowing more about Bitcoin’s future price targets? Check out our
Bitcoin Price Prediction
Altcoins Facing Challenges: Ethereum, Solana, and XRP Experience Declines
Ethereum currently holds a dominance of 13.6%, but it was not immune to the broader market dip, experiencing a 1.26% drop in the past 24 hours. Solana and XRP also followed suit, with losses of 2.09% and 2.56% respectively. The tight race between Trump and Harris in the U.S. election has led large investment funds to shy away from volatile assets, impacting not only Bitcoin but also top altcoins.
Curious about the long-term price targets for ETH? Read our
Ethereum Price Prediction
Top Gainers: Celestia, Popcat, and Beam Show Promising Performance
Not all assets are experiencing losses today. Celestia, Popcat, and Beam have seen gains of 3.44%, 3.21%, and 3.06% respectively. These assets have defied the overall market decline, offering a glimmer of hope.
Top Losers: Apecoin, dydx, and Mog Coin Experience Significant Decreases
On the other hand, Apecoin has suffered a significant decrease of 15.47%, followed by dydx with a drop of 13.30%, and Mog Coin down by 11.72%. These losses highlight the volatility present in today’s market, further adding to the uncertainty of whether this is a short-term pullback or a more substantial correction.
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