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The cryptocurrency market remained relatively calm in the last 24 hours compared to the previous week, with most cryptocurrencies not gaining significant ground. Conversely, most altcoin projects continue to trade within a certain range. This often signals a notable movement in either direction, so let’s take a closer look at how prices developed on the last day of the week.
Bitcoin Chart Analysis
Bitcoin price traded around the $60,000 consolidation zone yesterday, but the bulls managed to make some progress and pushed the price above $61,000, allowing Bitcoin to trade around $61,400 at the time of writing. However, Bitcoin continues to record an increase of around 0.8% during the day.
Volume remains low, but this is already expected for the weekend and is considered natural by investors. Bitcoin dominance, which measures Bitcoin’s share relative to the rest of the market, stands at 50.8% at the time of writing, while Ethereum manages to account for about 17% of the total market share.
Current State of the Altcoin Market
Most of the top altcoin projects by market value traded mostly sideways in the last 24 hours. TON managed to rise by around 2%, making its investors happy, thanks to a significant increase in the total value locked in the protocol.
In other areas, and perhaps where things get a bit more interesting, cat-themed memecoin projects surged today. According to CoinGecko’s data, the entire category increased by more than 6%. Moreover, these specific memecoin projects saw a notable 43% increase last week, with some popular memecoin projects including Mog Coin (MOG) and Popcat (POPCAT).
With all these developments, the Crypto Fear and Greed Index indicates that the market remains in a neutral state with significantly improved sentiment since yesterday, affecting investors’ buying or selling decisions.
