Bitcoin holds above $63,000 as the overall market continues to show divergence in performance. As the data from the analytical platform CryptoRank shows, several popular cryptocurrencies are moving in opposite directions. Some are growing while others are declining, which makes this market a complex and volatile environment.
📈Market Overview#Bitcoin trades above $63K. The top-10 cryptos are traded in different directions:$SOL -2.42%$ETH +1.84%$TON -1.39%
— CryptoRank.io (@CryptoRank_io) September 23, 2024
Market capitalization: $2.34T (+0.67%)
The #BTC dominance: 53.66% (+0.04%)
Fear & Greed Index: 50 (Greed)
👉 Top Gainers
Tron Bull $TBULL… pic.twitter.com/5YcNm0fYXi
Bitcoin’s Rising Dominance
Bitcoin’s dominance in the crypto market has slightly risen to 53.66% from a minimal margin of 0.04%. The market capitalization of the entire crypto-economy has expanded by 0.67% and currently sits at $2.34 trillion.
The market has been indicating a mixed trend among the top 10 cryptocurrencies. According to platform findings, Solana (SOL) fell 2.42% as the altcoin market faced selling pressure. However, Ethereum (ETH), the second-largest cryptocurrency in terms of market capitalization, appreciated by 1.84% and remained bullish. Toncoin (TON) also had a minor drop of 1.39%, which had a mixed impact on the top cryptocurrencies.
Crypto Fear & Greed Index
Although the value of the individual cryptocurrencies has been volatile, the most popular cryptocurrency, Bitcoin, has persisted as an investment and focus of attention. The Fear & Greed Index, an important gauge of market sentiment, stands at 50 at the moment. This is a neutral position as investors are both bullish and bearish in their approach to the market through trading.
Top Altcoin Gainers
Although the top cryptocurrencies had mixed performance, several other digital assets posted double-digit gains, with the following being the best performers. The crypto market continued its bullish run as Tron Bull (TBULL) emerged as the day’s best-performing altcoin after skyrocketing by 138%.
Another popular cryptocurrency in the lending and borrowing sector, Celsius (CEL), was not far behind with a 66.6% rise. Neiro (NEIRO) increased by 42.2%, NetMindAI (NMT) and CloreAI (CLORE) increased by 37.7% and 33.5%, respectively.
Bitcoin Dominance Breakdown Sparks Altcoin Season PotentialThe rise in Bitcoin’s dominance and market capitalization prove that cryptocurrency remains the most dominant asset in the market. However, the volatility of other major tokens like Solana and Ethereum depicts a different picture of the industry at the moment. These volatility are characteristic of the cryptocurrency market, where gain and loss opportunities are equally possible.
While Bitcoin continues to drive the market, altcoins are also getting attention from investors and traders. The market being as it is, investors are interested in trends and, therefore, act in volatile conditions.
