Market Update – The Price of Bitcoin Falls to $39,000

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The market’s leading cryptocurrency by capitalization has fallen below $40,000 after starting the day above this psychological mark. Over the past 24 hours, Bitcoin has lost 2.64% and at the moment is trading at $39,139.64.

The rest of cryptocurrencies in CoinMarketCap’s top 5 of largest cryptos by capitalization are also in negative, with the only exception of Tether, which as usual, has experienced very slight changes and is currently trading at $1.

The total capitalization of the cryptocurrency market has declined from yesterday’s $1.736T to $1.530T, reflecting the general decrease the market is undergoing.

Regarding the Bitcoin dominance index, it has risen to 48.1% from the 43.5% it showed yesterday. As for the greed and fear index of the largest cryptocurrencies in the market, it has fallen to 33 (fear), 5 points less than yesterday.

Today we have not seen any big news affecting Bitcoin directly, just a few news related to altcoins. For instance, it has become known that the Ethereum gas fees have fallen 90% in a month partly as a result of the declining activity in the NFT and DeFi sectors, among other things.

Besides, we have also reported that the South Korean authorities have ordered several cryptocurrency exchanges in the country to limit trading or directly delist some tokens that they considered too risky for traders.

However, not everything is so negative today. The meme crypto shiba inu and the fan token Chiliz have enjoyed considerable gains today after being listed on Coinbase Pro.

Today appears to be a day of general declines in the market, however, as we all know, the intrinsic volatility of the cryptocurrency market might cause things to change in just a few minutes.