The broader cryptocurrency market is struggling with considerable losses while Bitcoin holds up well above $65,000. In an X post on Saturday, analytical platform CryptoRank highlighted how Bitcoin holds firm as the rest of the top cryptos dip. The general market has been bearish, yet Bitcoin has managed to sustain its price above $65K, which is rather important during volatile periods.
📈Market Overview#Bitcoin trades above $65K. The top-10 cryptos are traded in red zone:$DOGE -2.11%$BNB -1.62%$SOL -1.47%
— CryptoRank.io (@CryptoRank_io) September 28, 2024
Market capitalization: $2.42T (-0.70%)
The BTC dominance: 53.58% (-0.32%)
Fear & Greed Index: 64 (Greed)
👉 Top Gainers
Velas $VLX +61.8%
Moo Deng… pic.twitter.com/50Z59hKRPL
Top Cryptos in Red
The report pointed out that many of the leading digital currencies are now in the red. Dogecoin (DOGE) is down by 2.11%, and Binance Coin (BNB) is down by 1.62%. This bears testimony to the negative market sentiment that currently prevails in the top-notch digital currency category.
The global market capitalization of cryptocurrencies has retraced by 0.70% to $2.42 trillion. This decline takes place while market players are dealing with more fluctuations and risks.
Nevertheless, Bitcoin still remained rather fixed and its market capitalization only dropped by 0.32% and now composes 53.58% This decline indicate that while Bitcoin continues to hold a significant market position, it has slightly lost its dominance.
Crypto Market Sentiment
On the other hand, the price of many cryptos is going down, the Fear & Greed Index that reflects the mood on the market has stopped at 64, this is the greed zone. This indicates that although the prices have been falling, the investors remain quite upbeat and optimistic, but one needs to be a bit cautious given the current fluctuations in the market.
Although the market is bearish for most of the top cryptocurrencies, there are some altcoins that have proved quite inspirational and have registered significant increases. Velas (VLX) leads the pack with a phenomenal 61.8% surge and ranks among the most active among lesser-known cryptos.
Bitcoin Hovers Around $64K, TON Rises Amid Mixed TrendsMoo Deng (MOODENG) was the second with a 55% rise and Daddy Tate (DADDY) also saw an increase of 34%. Others that include HyperGPT (HGPT) and SPX6900 (SPX) also rose by 22.3% and 22.1% respectively to illustrate that not all coins are affected by the bear market.
Bitcoin holds above $65,000 as the rest of the market drops despite the pullback. As major cryptos are declining and the total market cap is decreasing. However, there is a hint of hope for investors in the market due to the rise of some altcoins in the current volatile situation.
