The overall trends in altcoin prices stayed neutral over the last few days, leading to relatively lower volatility in the crypto market, while the BTC price range was also stable.
Bitcoin is set to end the week on a stable note, with the BTC price range hovering above $61,000. On the other hand, altcoin prices also haven’t fluctuated much in the last few days. Those like DOT, SOL, and XRP have seen price rallies in the last 24 hours. While SOL surged by over 5%, DOT went up by around 7%. This has resulted in the crypto market cap going up even without a major rally in BTC.
The Fear and Greed Index, a popular indicator of investor sentiment, can shed light on the prevailing mood. A neutral reading suggests a market devoid of extreme fear or euphoria. Over the last few days, this indicator has tread along ‘neutral’ or in the ‘fear’ zone. Thus, there is still much scope for buyers to start accumulating crypto in the near future.
The crypto market might be consolidating as well, allowing for a period of price stabilization before the next directional move. Moreover, the lack of volatility could be a precursor to a significant price breakout in either direction, waiting for a catalyst to trigger a move.
Although BTC might end the month with a 30-day negative return, sentiments aren’t bearish yet. On the contrary, a reversal is possible.
BTC/USD 1D price chart
Bitcoin is currently trading at around $61,400 on June 28, 2024, with BTC/USD trading higher by a margin of 0.37% in the last 24 hours. Bitcoin’s market cap was trading at around $1.21 trillion in the last 24 hours.
BTC/USD is trading lower than its 20-day EMA (65,899.17), as BTC’s 24-hour volume was at around $20 billion. The global crypto market cap increased by around 1%, trading above $2.28 trillion. BTC’s year-to-date returns are at 46.2%.
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