The global crypto market has continued to fluctuate, and the recent move is toward bearishness. The latest data shows that Bitcoin, Ethereum, and other major names are facing problems. These changes were expected as the market has seen an alternating pattern of losses and gains for a long while. The only difference this time was that the bullish current lasted longer than usual. The market might continue like this in the coming days.
Elon Musk has officially terminated the Twitter deal while Twitter has threatened a lawsuit. Twitter and Musk had agreed on $44 billion as the deal between Tesla’s head and the social media giant was finalized. The change was seen as a positive development by crypto enthusiasts because of the opportunities it would open up for crypto. As the deal gets canceled, it might also create difficulties for crypto enthusiasts.
Tesla head Elon Musk has been instrumental in promoting crypto and has been behind the promotion of various digital assets. Bitcoin rose when Tesla began accepting it for merchandise and other purchases.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC continues to fluctuate
Bitcoin has seen constant fluctuations in value over the last few months. These changes have resulted in its inability to cross $22K. This change has made the analysts believe in Peter Brandt’s analysis of Bitcoin’s performance in the upcoming months. There have been debates about correctly pinpointing Bitcoin value, but some have proved to bring near estimates.
The latest data for Bitcoin shows that it has shed 1.94% over the last day. In comparison, the performance for the last seven days shows an additional 12.53%. These changes have resulted in lowering the Bitcoin value to a small extent.
The price value for Bitcoin is current about $21,559.33. The market cap value for Bitcoin is estimated to be $411,981,720,410. The 24-hour trading volume of Bitcoin is about $51,085,396,676.
ETH in a recessive mood
Ethereum has performed much better than the other months as it has remained consolidated. According to market analysts, the bearish pressure on this coin might subside in the short term, but the question is about its resilience in the longer run.
The changes for Ethereum suggest that its value has declined 2.57% over the last 24 hours. If we compare the performance of this coin for the last seven days, it has added 16.01%. The latter value is still strong compared to other times.
The price value for ETH is in the $1,215.73 range and might be lower. The market cap value for the same coin is estimated to be $147,674,086,994. The 24-hour trading volume of the same coin is about $15,569,672,242.
CRO facing hard times
Cronos has also been facing hard times due to bearishness in the market. These changes have resulted in a loss of 1.19% over the last day. In comparison, the performance for the past seven days shows an additional 9.62%. The price value for the same coin is about $0.1232.
The market cap value for CRO is estimated to be $3,111,940,323. The 24-hour trading volume of the same coin is about $25,234,195. The same amount in its native currency is about 204,853,482 CRO.
XLM changes to a bearish pattern
Stellar has also continued to face bearishness as the market is on the decline. These changes have resulted in a loss of 3.01% over the last day. The performance of the same coin for the last seven days shows addition of 6.27%. The mentioned changes have brought its price value to the $0.1126 range.
If we compare the market cap value for XLM, it is estimated to be $2,826,756,406. The 24-hour trading volume of the same coin is about $172,424,199. The circulating supply for the same coin is about 25,076,251,503 XLM.
Final Thoughts
The global crypto market has continued to change as there has been no lasting stability. This change has resulted in the loss of a considerable value during the last 24 hours. The value of Bitcoin, Ethereum, and others fluctuated slightly. The global market cap value has also seen slight changes as it is currently estimated to be $953.72 billion.
