The crypto market saw an almost 1% decrease this week. Bitcoin experienced a slight drop, reaching approximately $118,828 after a decrease of 0.06%. Ethereum slipped by 0.47% to hit a price of $3849.
The crypto prices decreased, but the Fear & Greed Index remained in the Greed section at 73, which indicates that investors are still optimistic.
Crypto Market Overview
The entire crypto market cap fell to 4.12 trillion. The number of liquidations in both spot and derivative positions was $441 million.
Ethereum spot ETF inflows are down to 65 million, which happened to be net flows as well since July 2, because we didn’t see any outflows in this period, indicating that institutions still have confidence in Ethereum.
Altcoins Experience 3–5% Corrections
The vast majority of altcoins fell as a result of the decline of Bitcoin and Ethereum, but some of the tokens increased in price. The Bitcoin dominance also took a rebound from the crucial 60% level.
The native token of Conflux Network, CFX, gained more than 40% in value following an announcement to launch an offshore yuan-linked stablecoin.
DebtCoinBonk increased its DEBT coin by 62%, and the Agent Nyla and esports platform token NYLA and ESPORTS increased their tokens each by 31%.
GEAR by Gearbox Protocol increased by 22%, and BananaS31 on BSC rose 21%. Altcoin Index is at 46 out of 100, which means that it is in a mixed zone.
ETF Inflows and Regulatory Progress
The following four are some of the headlines driving the market now:
The U.S. Securities and Exchange Commission deferred the decisions on two ETFs: the proposed Truth Social Bitcoin ETF and the Solana Trust by Grayscale. The market players are hopeful that there will have an impact on the sector mood when final results come.
Liminatus will invest as much as 500 million in BNB, which is an indication of further interest in the Binance native token.
Mill City Ventures will issue the purchase of SUI tokens valued at 441 million dollars in the emerging blockchain protocols.
Through these updates, traders will track the support values at the current level of prices of Bitcoin, Ethereum, and the overall crypto market.
A rise above 62% of BTC dominance would be the trigger of more corrections, and new ETF approvals or massive investments would be the driver of the next upswing.
