- Bitcoin trades below $61K as altcoins show mixed results amid market volatility.
- The crypto market cap rises slightly to $2.24T, while Bitcoin’s dominance slips to 53.5%.
- Fear & Greed Index stays in “Fear” at 32, signaling cautious sentiment among investors.
Analytical platform CryptoRank reported that Bitcoin is trading below the $61,000 mark, which shows that BTC is still struggling to overcome important barriers. According to the platform findings, the cryptocurrency market is showing mixed performance. XRP and Solana are rising, while Binance Coin is experiencing losses.
📈Market Overview#Bitcoin trades below $61K. The top-10 cryptos are traded in different directions:$XRP +2.30%$BNB -1.53%$SOL +1.23%
— CryptoRank.io (@CryptoRank_io) October 11, 2024
Market capitalization: $2.24T (+0.04%)
The #BTC dominance: 53.50% (-0.53%)
Fear & Greed Index: 32 (Fear)
👉 Top Gainers
MSTR2100 $MSTR… pic.twitter.com/BgQ609Bu5S
The total market capitalization of the cryptocurrency market, as seen by the platform, has also increased slightly to $2.24 trillion. This indicates a rise of 0.04% compared to the previous day. However, the market cap has only slightly increased, and Bitcoin’s dominance has also reduced to 53.5% from 54.03%, which shows that altcoins are slowly and steadily surpassing Bitcoin.
Fear Index Rises
Contributing to this rather tentative sentiment is the Fear & Greed Index, which, as of writing, is at 32, still in the “Fear” territory. This indicator measures investor opinion, with fear being a significant influencer of more cautious investment decisions.
The top 10 cryptocurrencies have shown different performances in the last 24 hours. XRP rose by 2.30% and retained its position among the bulls. Solana (SOL) also picked up by 1.23%, and the Binance Coin (BNB) is down by 1.53%.
Smaller Tokens Surge
Despite Bitcoin’s struggles at the moment, a number of other less popular virtual currencies have provided great returns. The biggest gainer is MicroStrategy (MSTR), whose token rocketed by 350%. Other notable gainers include NEIRO on the Ethereum blockchain, which rose by 41.1%.
BTC’s Calm Near Resistance Signals Potential BreakoutThe market also saw increases in the value of other coins. Solar (SXP) gained 26.5%, Brainlet (BRAINLET) rose 24.5% and Mistery (MERY) increased by 26.70%. These promising results for smaller tokens suggest that, despite the overall market’s hesitance, there are still a great many potential profits to be made.
These trends capture key trends in the cryptocurrency market. As Bitcoin fails to recover the lost ground, the major and the new coins are gaining attention and offering opportunities for gains irrespective of the volatile market. Investors are still cautious but are expanding their search to other assets as the Bitcoin rally loses steam.
