The global cryptocurrency market cap tumbled to $2.07 trillion, falling as much as 6% in the last 24 hours. Bitcoin plunged by nearly 5 per cent the previous day. Down from a value above $47,000 on Thursday to about $45,000 early Friday. While, Ethereum, the largest altcoin, witnessed a new 4% correction in 24 hours. At press time, it traded shy of the $3.3k mark.

So what comes next? Fear? ROI loss?

Firstly, talking about the fear factor. The Fear and Greed Index (which analyzes emotions and sentiments from different sources) stood at 50. This represented a more neutral sentiment across the board.

Next, holders of Bitcoin and Ethereum appear to be taking profits as both saw transaction spikes at their tops a couple of days ago. The given insight analysis whether transactions are carried out while a position is in profit or at a loss. As per Santiment’s data, there were 3x as many profits transactions vs. loss transactions for the first time since November.

Source: Santiment

To put this further into perspective or rather give support, one could use IntoTheBlock’s insights as well. Talking about Bitcoin, 71% of BTC holders made huge gains whereas 28% witnessed losses. On the other hand, 80% of ETH holders saw profits compared to just 18% who suffered a loss.

A widely followed crypto strategist charted Bitcoin (BTC) and Ethereum (ETH) trajectories in different tweets. He expected a hike to the $51k-$53k for the most prominent cryptocurrency. Indeed, the Luna Foundation Group acquiring more BTC would trigger this growth.

The pseudonymous crypto analyst Pentoshi had this to say,

<p lang=«en» dir=«ltr» xml:lang=«en»>For now should expect yearly open and purple box to act as support.

Potential smol pullback as LFG and Do Kwon appear