The global crypto market has seen a dominant trend of losses. The recent wave of bearishness has affected the overall market as the losses increase. The previous day brought slight regression to the leading coins like Bitcoin, Ethereum, etc. But now, there is an overall trend for losses in the market, forcing sell-offs. As the bearishness continues, the market has seen a regression in value, affecting the investor gains.
Pension funds across North America have continued to show interest in crypto despite the market crash. According to a Wall Street Journal report, the increased interest is evident from investments in this domain. An example is an asset-management firm, VanEck, whose interest is reflected in their recent investments. The recent depression in the market made investors consider whether to hold their investments or walk away from the market.
The bear market brought some fierce changes to the market, and an example is a Houston-based firefighters’ pension fund. The mentioned organization put $25 million into Bitcoin and Ethereum but lost half of the amount to the bearish market. Still, the leadership of the organization is stuck to crypto. Ajit Singh, the investment head of Houston Firefighters’ Relief and Retirement, said that volatility and swings are expected. He also said that they would continue investing in the market.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC stays bearish
The market has remained favorable to Bitcoin, but Peter Schiff has continued negative predictions. According to his latest prediction, Bitcoin will test support below $10,000. The market is yet to see if these predictions will come true.
The value of Bitcoin is again in a recessive mood due to the bearish market. The mentioned change has brought a loss of 0.78% over the last 24 hours. The weekly data shows a gain of 5.11%.
The price value for Bitcoin is in the $24,411.08 range. If we compare the market cap value for Bitcoin, it is estimated to be $466,208,954,639. The 24-hour trading volume of Bitcoin is about $23,170,337,379.
ETH on backfoot
Ethereum has been affected due to the anti-crypto wave of bans like that of Tornado Cash. The change has affected the investments in this coin as it couldn’t continue bullish. The mentioned change has posed the question of whether it will be able to cross $2K.
Ethereum has seen a reversal due to a change in the influx of capital. The recent changes have brought a loss of 1.85% over the last 24 hours. The seven-day changes show that it has added 14.45%.
The price value for ETH is in the $1,952.73 range. The market cap value for this coin is estimated to be $238,167,578,537. The 24-hour trading volume of this coin is about $14,293,945,696.
QNT reverses gains
Quant has also been affected by the bearish changes in the market. The latest data shows a loss of 5.81% over the last 24 hours. The seven-day changes for these coins show a loss of 5.79%. The price value for QNT is in the $119.79 range.
The market cap value for Quant is estimated to be $1,446,200,570. The 24-hour trading volume of the same coin is about $42,761,359. The same amount in its native currency is about 356,968 QNT.
EOS facing hard times
EOS has also faced hard times due to a bearish market. The latest data shows a loss of 2.68% over the last 24 hours. The weekly data shows a gain of 7.11%. The price value for the same coin is about $119.79 range.
The market cap value for EOS is estimated to be $1,318,592,311. The 24-hour trading volume of this coin is about $209,147,646. The circulating supply of this coin is about 997,128,160 EOS.
Final Thoughts
The global crypto market has seen dominant bears, which has halted its progress. The changes since February 2022 have continued to hold back the market. As the recent wave of bearishness has come, it has affected Bitcoin and other coins in the market. The recent change has also affected the global market cap value. The mentioned value is currently estimated to be $1.17 trillion.
