Baku: The cryptocurrency market recorded positive dynamics over the past 24 hours, APA-Economics reports, citing CoinMarketCap. Bitcoin rose by 2.12% to USD 70,778, while Ethereum slipped slightly by 0.05% to USD 2,083.
According to Azeri-Press News Agency, price movements among other major cryptocurrencies in the top-10 were mixed. Tether (USDT) remained unchanged at USD 0.9992, XRP gained 1.31% to USD 1.44, while BNB fell by 0.45% to USD 640.96. USDC declined marginally by 0.01% to USD 0.9998, Solana dropped 0.42% to USD 86.97, and TRON advanced 0.80% to USD 0.2789. Dogecoin lost 1.34%, falling to USD 0.096, while Bitcoin Cash increased by 1.35% to USD 528.
The total capitalization of the cryptocurrency market rose by 1.4% over the past 24 hours to USD 2.4 trillion. The CMC20 index also increased by 1.57%, reaching 145.25 points. Despite the gains, risk appetite in the market remains weak. The Fear and Greed Index stands at 9, indicating that an environment of ‘extreme fear’ among investors persists.
Analysts attribute the short-term market rebound to a technical recovery following sharp price declines in recent days, as well as investors taking advantage of lower prices to enter buying positions.