The Bitcoin (BTC) price continued its decline: it fell by 4% over the week and by 1.5% over the last 24 hours. As of 11:20 Moscow time, the leading cryptocurrency is trading around $62.2k. The price is close to its lowest level in the last two weeks.
The total market capitalization of cryptocurrencies decreased by 1.2% over the past 24 hours, to $2.15 trillion. Trading volume during this time was about $41 billion, according to Coinmarketcap. For comparison, last summer the daily volume mostly reached $150-200 billion, and in early July it was about $80 billion.
The Ethereum ($ETH) price is fluctuating around $1.84k — a drop of 2% over 24 hours and 6% over the week.
Among the top 100 cryptocurrencies, MemeCore (M) saw the biggest gain in 24 hours — up 10%. The biggest drop was for the Audiera (BEAT) token, which fell by 22%.
Spot Bitcoin exchange-traded funds (ETFs) in the US, which recorded three weeks of inflows in July, ended the past month with a weekly outflow of $61.5 million, according to SoSoValue. For Ethereum, inflows continued; last week, $ETH funds received $27.4 million. Net inflows into spot ETFs on SOL and XRP amounted to $2.82 million and $14.86 million respectively, while inflows into the HYPE ETF were $14.75 million.
The crypto market's Fear and Greed Index is in the "Fear" zone, at 28 points out of 100. The market sentiment indicator has not even reached neutral levels since mid-May. This suggests that investors have maintained a tendency to sell cryptocurrencies for the third consecutive month.
Experts previously interviewed by "RBC-Crypto" believe that price growth in the crypto market will not begin until this fall. Among the restraining factors, they cited regulation and macroeconomic conditions.
"RBC-Crypto" does not provide investment advice; the material is published for informational purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.
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