The global cryptocurrency market experienced a minor pullback with its market capitalization decreasing slightly to $1.42 trillion, marking a 1.41% dip from its previous valuation. Despite this setback, the overall market sentiment remains positive, as indicated by a high reading of 74 on the fear and greed index. Global trading volumes have risen by 3.9%, reaching nearly $40 billion.
In the midst of these market conditions, Bitcoin has shown resilience, with its value increasing by 2.2% to $36,500. The leading cryptocurrency also saw a significant 33% surge in trade volumes, totaling $27.7 billion. Although volatility metrics stayed compressed, RSI indicators suggested bearish tendencies.
Ethereum has faced slight resistance, with its price marginally declining to $1,996, which represents a daily loss of less than 1%. However, it still managed to post a modest weekly gain of 0.81%. Ethereum's trading volumes have increased by 13%, climbing to $14.6 million amidst fluctuating market conditions and bearish technical analysis outlooks.
BNB is contending with downward pressure, having dropped in value to $235.8 after a 9% decline over the day. Despite this daily loss, BNB has maintained a weekly gain of 4.4%. Trading volumes for BNB have spiked by 60%, reaching $2.5 million following the announcement that CZ will step down as CEO of Binance.
THORChain's RUNE token has also faced intraday depreciation, dropping by 6.8%, yet it has achieved a weekly increase of 1.9%. Its trading volumes have dramatically increased by 83%, hitting $570 million, despite erratic market sentiment and bearish signals from analytical tools like Bollinger bands and RSI.
BLUR stands out with its price surging by 15% on the day and registering an 18% increase over the past seven days. The bullish trend for BLUR is supported by a 66% increase in trading volume, which reached $430 million amid substantial volatility but favorable conditions for bulls according to technical analysis indicators such as Bollinger band spreads and RSI positioning above average levels.
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