Crypto Market Update: BTC Loses Grip on $64k Mark as Fear and Greed Index Shifts to Fear
- Patricia ArquetteOriginal
- 2024-10-04 18:48:20189browse
The crypto industry started on a bearish note in October and continues the pattern. The Fear and Greed Index has shifted from Neutral to Fear in the past few days.
The crypto industry began October on a bearish note, and the trend has continued ever since. The Fear and Greed Index has shifted from Neutral to Fear over the last few days.
According to Cointree, the metric currently stands at 41 and is expected to experience some fluctuation over the weekend. Bitcoin has slipped below the $64,000-mark and is currently trading at $61,157. Most top cryptos have followed suit, experiencing a decline in value over the last 24 hours.
However, TON and TRX have bucked the market trend, securing minor growth. DOGE and SHIBA have also maintained their respective patterns.
Here's a quick overview of the crypto market and its latest developments to help traders understand the industry.
Bitcoin
Over the last 24 hours, the world's top crypto has seen a minimal loss of 0.05% in its value. Despite this slight decline, the crypto is still trading at a high price of $61,157.
In the past week alone, BTC has experienced a loss of 6.28% in its value. Its spot ETF outflow recently hit $54.1 million, indicating another upcoming dip. The crypto has established its first major support at $60,002. On the other hand, Bitcoin is likely to face resistance at $61,511.
Ethereum
Unlike BTC, ETH has not been able to maintain its stance and has lost 0.51% over the last 24 hours. The crypto has slipped from the $2,400-mark and is now trading at $2,378.
Over the past 7 days, the coin has lost 10.05% in value and is continuing the trend. Based on historical data, analysts are expecting a 50% price correction for ETH. Its first support level is placed at $2,303.
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