Cryptocurrency Market Sees Mixed Trends as Bitcoin and Ethereum Face Bear Activity


Tuesday’s cryptocurrency market presented a mixed bag of trends, with Bitcoin and Ethereum unveiling bearish activity while certain altcoins such as Tezos and Ocean Protocol indicated bullish trends. The global market cap dropped 1.30% to a total of $1.07 trillion, with the fear and greed index sustaining a neutral position of 45.

Bitcoin, the leading cryptocurrency, showed a minor daily decrease of 0.91%, pushing its price to $27.6K. However, Bitcoin was able to manage a small weekly rise of 0.1%. Its trade volume also surged 62%, reaching $12.1 billion.

Ethereum, the second-largest cryptocurrency by market cap, also presented a bearish trend. It experienced a daily decrease of 2.33%, bringing its price down to $1590. This dip extended to a weekly decrease of 4.67%. Despite the price drops, Ethereum’s trade volume jumped 125% to a total of $7.2 billion.

OKB, on the other hand, had slight bullish activity with a daily increase of 0.64%, bringing its price to $43.02. In spite of a minor weekly decrease of 0.6%, OKB’s trade volume saw a significant growth of 133% to $2.1 million.

Tezos and Ocean Protocol emerged as strong contenders in the altcoin market, both exhibiting bullish trends. Tezos marked a healthy 7.7% daily and 6% weekly rise, bringing its price to $0.7296. Ocean Protocol also recorded a 1.1% daily increase, despite a minor 2.4% weekly drop, price standing at $0.3053.

The trade volumes for Tezos and Ocean Protocol were registered at $97.6 million and $33 million respectively, reflecting the intensified trading activity for these digital assets.

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