As bearish sentiment continues to loom over the cryptocurrency market, the global market capitalization has declined, settling at $2.23 trillion at the time of writing.
This figure, according to CoinMarketCap, represents a 2.61% decrease over the past 24 hours, signaling a cautious mood among investors.
Despite the dip in overall value, trading activity keeps hope alive as the total trading volume reached $65.6 billion, marking a substantial 19.28% increase during the same period.
Market analysts continue to highlight the current Bitcoin (BTC) market cycle as a standout one compared to previous bullish runs, citing new developments like spot Bitcoin ETFs and the spot Ethereum ETFs as collective contributors to the complex and nuanced state of the market. Read more from our Bitcoin price prediction.
#Bitcoin Retesting the Descending channel!
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