Today, the global cryptocurrency market witnessed a correction that saw most assets cooled off their upward pace. As a result, its market capitalization experienced a 2.31% decrease to $3.53 trillion.
Also, its total market volume recorded a 22.4% drop to $147.99 billion, indicating cautious trading activity. Meanwhile, the fear and greed index stood at 75, suggesting increased enthusiasm continues to support market sentiment.
Bitcoin holds at $102k
Today, Bitcoin slowed down its momentum, currently trading at $102,341.56, after seeing a 2.29% decrease over the previous day. Its trading volume experienced a 19.24% drop to $60.23 billion. Likewise, its market cap saw a 2.36% decline to currently standing at $2.02 trillion.
BTC’s bearish performance today has been triggered by massive liquidations in the derivative market. However, the token still displays its resilience. Its market dominance remains strong, currently standing at 57.45%.
Altcoins’ performance down
Today, prominent altcoins are all down. Ethereum recorded a 1.75% decrease over yesterday to currently trading at $3,221.16. XRP posted a 1.10% drop to price its value at $3.11.
Solana also registered a 2.24% decline to retrace its value at $247.93. BNB further experienced a decline of 1.27% to currently hovering at $686.92.
Dogecoin also witnessed a drop of 2.91%, which placed its value at $0.3514. Lastly, Cardano and TRON registered declines of 2.16% and 0.64%, which pulled their prices at $0.9659 and $0.2474 respectively.
Top news in the market
Following are today’s top events that occurred in the crypto markets.
- Bitwise filed for a Dogecoin ETF application to allow mainstream investors to get exposure to the growing demand for the meme coin.
- Apart from that, the Texas federal court overturned the sanctions put on crypto mixer Tornado Cash by the US government. The court said the US Treasury went beyond its authority by sanctioning Tornado. With the ruling, the treasury is now expected to lift sanctions on Tornado.
- In Davos, Blackrock CEO Larry Fink emphasized that Bitcoin is a safeguard against inflation and currency instability. He, as a result, predicted that BTC price could surge to $700,000 fueled by institutions’ allocation. He spoke in an interview in Davos where he noted that institutions, including wealth funds, are increasingly allocating Bitcoin into their portfolios.
- Finally, US President Trump announced a private sector investment of a massive $500 billion to fund AI infrastructure. This investment aims to enable the US to outsmart rival countries in business-critical technology. Trump said private firms including Oracle, SoftBank, and OpenAI intend to establish a joint venture known as Stargate, which will develop data centers across the country and create more jobs.
Today’s top gainers
Today, emerging altcoins lead the crypto market as top performers. BABYSHARK emerged as the best gainer with a tremendous 100% rise in the last 24 hours.
While Tornado Cash followed with an incredible 72.4% surge, Memdex100 secured the third position with a remarkable 60.1% increase.
Also, KIP Protocol gained visibility with its outstanding 56.8% uptrend. Lastly, Dotcom closed today’s top gainers list with an impressive 44.7% rise.
