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Leading cryptocurrency Bitcoin has made significant gains over the past few weeks and recently surged above $38,000, delighting investors.
However, BTC seems to have lost its upward momentum in recent days. Because BTC could not continue its recent rise and experienced a decline below $ 37,000.
At this point, while Bitcoin rose to $ 36,720, experts evaluated that this decline may be due to the cautious attitude of investors.
In other words, experts stated that the source of the decline may be that investors are evaluating the potential direction of the market in the coming days.
According to CoinMarketCap data, Bitcoin is at $ 37,000 with a decrease of 0.58 in the last 24 hours, while the largest altcoin Ethereum (ETH) is at $ 2,010 with a decrease of 1.6%.
Terra Classic (LUNC), which started to decline after its tremendous rise yesterday, became the altcoin that lost the most, falling 21.2% in the last 24 hours.
While BTC and cryptocurrencies generally experienced a decline, some altcoins differentiated positively from the market with their rise.
At this point, FTX Token (FTT), Celestia (TIA) and Toncoin (TON) were the three most profitable altcoins.
In the last 24 hours, FTT increased by 15.8%; TIA increased by 10.7% and TON increased by 3.2%.
Finally, when we look at the fear and greed index of the crypto market, the index dropped from 71 last week to 68 levels.
While this decline shows that confidence in the market has decreased, the index still remains in the greed zone despite this decline. This shows that the market may continue its upward trend in the coming days.
*This is not investment advice.