Markets
Bitcoin and Ethereum Underperform as Crypto Market Remains Bearish
- Bearish sentiment dominated the crypto market.
- BTC and ETH led the bearish sentiment with their poor price trends.
Although holders of certain meme coins may be celebrating significant gains in recent days, the cryptocurrency market seems subdued.
Recent data has indicated an overall negative sentiment prevailing in the market, potentially paving the way for an upward trend in the near future.
However, as of now, the market capitalization is declining, with major assets seeing decreases in value over the last 24 hours.
Negative sentiments dominate the crypto market
AMBCrypto’s analysis of weighted crypto market sentiment, focusing on large-cap assets such as Bitcoin [BTC], Ethereum [ETH]It is BinanceBNBrevealed a predominant negative feeling until now.
O Sanction The chart illustrated bearish sentiment across the market from May 8 to May 14.
Similar universal bearish patterns were observed from April 10-16 as well as March 13-19.
At the time of this publication, Curling displayed the lowest weighted sentiment, with Bitcoin following closely as the second lowest.
Source: Santíment
Crypto Market Capitalization Declines
AMBCrypto Exam crypto market data about CoinMarketCap revealed a decline in market capitalization in the last 24 hours.
The market capitalization has decreased by more than 1.3% to approximately $2.27 trillion at the time of writing. Despite this decline, volume increased, showing an increase of more than 27%, to around 68 billion dollars.
Furthermore, the fear and greed index reflected neutral sentiment, standing at 55 so far. However, it seemed to be closer to fear.
This drop in market capitalization is attributed to the poor performance of important assets such as Bitcoin It is Ethereum in the last few hours.
Bitcoin and Ethereum remain bearish despite increases
AMBCrypto Review Bitcoin the price trend on the daily timeframe revealed a setback in its recovery attempt.
The drop was marked by a drop of more than 2% on May 14, bringing its price back to the $61,000 zone.
However, at the time of writing, Bitcoin had recovered with an increase of over 2%, trading above $62,000 once again.
Source: TradingView
To read Ethereum [ETH] Price prediction 2024-25
Similarly, Ethereum experienced a decline of over 2% in the previous trading session, closing around $2,800. However, it had recovered more than 1% at the time of writing, trading at approximately $2,900.
Despite these fluctuations, both assets remained in a downtrend, contributing to the overall bearish sentiment in the market. crypto market.
Source: TradingView