Bitcoin started Thursday’s trading session with a slight loss of 0.67 percent, bringing its price to $27,190. This followed a breakthrough in the previous day, where Bitcoin finally broke the $26,000 mark. Despite the minor setback, Bitcoin managed to maintain its increased value. Over the past 24 hours, the value of BTC experienced a decline of $306.
Ether also saw a dip in price, falling 1.15 percent and currently trading at $1,699. In the last day, Ether’s price dropped by $19. Analysts attribute the loss to Bitcoin losing momentum gained after Grayscale’s victory against the SEC. However, there is still optimism for Bitcoin’s future, with a 75 percent chance of Bitcoin ETFs getting approval this year. The SEC is anticipated to decide on ETF applications from BlackRock, Fidelity, Invesco, and WisdomTree this week.
In addition to Bitcoin and Ether, other major cryptocurrencies experienced price dips on Thursday. Tether, Binance Coin, Ripple, USD Coin, Cardano, Dogecoin, and Solana all suffered losses. Minor losses were also recorded by Tron, Polkadot, Polygon, Litecoin, Shiba Inu, and Avalanche. As a result, the overall crypto market cap decreased by 0.89 percent in the last 24 hours, reaching $1.08 trillion.
Investor Sentiment Remains Neutral
Despite the market dip, investor sentiment continues to climb. It has increased by three points since yesterday, reaching a neutral zone with a score of 52 out of 100. The market traded sideways with downward pressure, and most of the top 10 cryptocurrencies by market capitalization were in the red. This indicates that investors are cautiously monitoring the current market conditions.
While many cryptocurrencies experienced losses, a few managed to register profits. Leo, EOS Coin, Zcash, Dash, Augur, and Circuits of Value were among the cryptocurrencies that saw positive returns. Additionally, Robinhood, one of the largest financial brokers in the US, gained traction after introducing wallet support for Bitcoin and Dogecoin. Despite the crowded market segment, investors responded positively to this development.
Bitcoin and Ether faced minor losses in the latest trading session, but both cryptocurrencies held onto their increased values. Other major cryptocurrencies and several altcoins also experienced price declines. Despite the market downtrend, investor sentiment remains in the neutral zone. Some cryptocurrencies managed to buck the trend and saw profits. The introduction of wallet support by Robinhood also attracted positive attention from investors. As the crypto market continues to evolve, it remains crucial for investors to carefully analyze market conditions and make informed decisions.