A Bitcoin price crash is happening with its marketcap receding from yesterday’s 542.46B to 536.97 B. This drop is off 1.01% from yesterday and -4.24% from a year ago.
Bitcoin market cap
The total Bitcoin marketcap as recorded on May 30, 2023, (536.97B) is down by 1.01% from the value recorded the previous day. This drop can be attributed to the continuous fall in crypto prices throughout May 2023. The coin’s market cap on May 04, 2023, was around 565.10B, 28.13B more than the values recorded today.
Though Bitcoin’s market cap is down today, its price has not moved by much, it has recorded a 0.25% drop in the past 24 hours. It also has a price rise of 1.96% in the past seven days and a 24-hour transaction volume of around 451K BTC worth $12.564B.
However, this trading volume is a drop of 23.01% from what was recorded 24 hours ago pushing the coin’s market dominance to 46.53%.
Bitcoin’s Fear and greed index
Crypto Fear and Greed index is a chart that uses social signals and market trends to determine the overall sentiment surrounding an asset in the crypto market. It’s called an index because it tracks multiple data sources and combines them to come up with a final figure that is representative of the whole market.
During the time of writing, Bitcoin’s Fear and Greed Index was at 51, neutral. That means both bears and bulls have almost equivalent power to push the price foreshadowing a sideways market in the short term (next hours of the day).