Crypto Market Trend
Date: July 29, 2024
Market Cap 24h Change: 0.11%
Reason:
The market has been largely stable.
Date: July 28, 2024
Market Cap 24h Change: -1.23%
Reason:
The market has been down by 1.23% but the reason is not clear.
Date: July 27, 2024
Market Cap 24h Change: 1.56%
Reason: The market has been up by 1.56% because of several favorable developments:
- Bitcoin ETFs see increased inflows with $31.1 million inflows, showing growing investor interest in Bitcoin over Ethereum.
- Rumors and optimism about the approval of a spot Bitcoin ETF on Friday have gone into overdrive, significantly uplifting market sentiments.
- Crypto traders have actively speculated, with $1.5 million wagered on the ETF approval results, reflecting a bullish outlook among traders.
Date: July 26, 2024
Market Cap 24h Change: 3.59%
Reason:
The market has been up by 3.59% because of several favorable developments:
- Bitcoin ETFs see increased inflows with $31.1 million inflows, showing growing investor interest in Bitcoin over Ethereum.
- Rumors and optimism about the approval of a spot Bitcoin ETF on Friday have gone into overdrive, significantly uplifting market sentiments.
- Crypto traders have actively speculated, with $1.5 million gambled on the results of the Bitcoin ETF approval, reflecting a bullish outlook among traders.
Date: July 25, 2024
Market Cap 24h Change: -3.55%
Reason:
The market has been down by -3.55% because of multiple interrelated factors:
- The significant sell-off in major US tech shares has contributed to global market declines, creating a negative spillover effect on the crypto market. Read more
- Bitcoin and Ethereum have faced substantial losses, with Bitcoin's value plunging to $64K and Ethereum experiencing an 8% drop. These losses led to approximately $250 million in liquidations, exacerbating the market downturn.
- All 20 assets in the CoinDesk 20 index experienced declines, particularly Ethereum and Cardano, which were dragged down by broader market movements.
Date: July 24, 2024
Market Cap 24h Change: -0.84%
Reason:
The market has been down by -0.84% because of the significant movements of Bitcoin by Mt. Gox. The bankrupt exchange continues to transfer large amounts of Bitcoin, including a notable $2.47 billion BTC movement which has escalated fears of a major selloff in the market.
Date: July 23, 2024
Market Cap 24h Change: -2.21%
Reason:
The market has been down by -2.21% because several unfavorable events have contributed to the decline:
- Swan Bitcoin halting its mining and IPO plans, along with staff cuts, likely indicates internal financial difficulties and reduced investor confidence in the firm.
- The substantial movement of $2.85B in Bitcoin by the bankrupt Mt Gox exchange to new wallets creates concerns about potential sell-offs, impacting market sentiment negatively.
- Large Ethereum holders cashing out ahead of the launch of spot ETH ETFs suggests anticipation of high volatility and reflects uncertainty or lack of confidence in the new financial products.
Date: July 22, 2024
Market Cap 24h Change: -0.35%
Reason:
The market has been down by -0.35% but the reason is not clear.
Date: July 21, 2024
Market Cap 24h Change: 1.05%
Reason: The market has been up by 1.05% because of positive sentiments surrounding rumors about the imminent approval of a spot Bitcoin ETF on Friday and a significant boost in Bitcoin mining activities by Marathon Digital. Read more.
Date: July 20, 2024
Market Cap 24h Change: 0.43%
Reason:
The market has been up by 0.43% because Bitcoin price has quickly recovered and reached $66,000 amid a global IT outage, contributing to the positive market sentiment.
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