Bitcoin Gains Ground While Ethereum Retreats in Cautious Crypto Market
Leading cryptocurrencies showed mixed performance on Wednesday as market sentiment remained fearful despite some gains.
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The cryptocurrency market displayed mixed signals on Wednesday, with Bitcoin making modest gains while Ethereum continued its decline. Bitcoin nearly touched $114,000, representing a 0.82% increase, while Ethereum dropped 1.42% to $4,124.28, falling 16.82% from its recent all-time high.
Market dominance shifted toward Bitcoin, which now accounts for 58% of the total cryptocurrency market capitalization of $3.90 trillion. Trading activity remained volatile, with $270 million liquidated in 24 hours and over 55% of Binance traders maintaining long positions on Bitcoin. Notable gainers included XRP (+2.82%) and Dogecoin (+0.29%), while Solana declined 1.65%.
The Fear & Greed Index indicated persistent market anxiety. Analytics firm CryptoQuant observed that Bitcoin's implied volatility has reached its lowest level since 2023, historically preceding significant rallies.
They noted exchange reserves at multi-year lows and balanced funding rates, describing the situation as 'calm before the storm.'
Original Article
benzinga.comhttps://www.benzinga.com/crypto/cryptocurrency/25/09/47857127/bitcoin-dogecoin-xrp-gain-while-eth-dips-further-analytics-firm-sees-calm-before-the-storm-