Daily Crypto Update: Market Stabilizes, Traders Remain Cautious

The crypto market is showing signs of stability before the weekend. Bitcoin is staying above the 60,500-dollar mark, while Ethereum still stands at 2,400 dollars.

Big names like XRP, Cardano, and Toncoin are defying bearish sentiments. However, the Fear and Greed Index still shows concerning signs. According to Cointree, the metric stands at 32, indicating a growing level of fear among traders. 

Meanwhile, emerging coins like Bonk, Popcat, and Dogwifhat are gaining market precedence. Here is a quick overview of the crypto market with the latest developments to help traders.

Bitcoin

BTC managed to stay above the 60,500 dollar mark on Thursday. The market leader only lost 0.52% value in 24 hours, currently trading at 60,569 dollars.

The coin has dropped 0.99% in value in the past seven days. BTC is witnessing a crash since whales keep selling off their Bitcoin stack. The coin has a support level of 58,685 dollars, while its resistance level is 60,997 dollars. 

Bitcoin is anticipated to challenge the resistance level over the weekend, given the current circumstances.

Ethereum

Ethereum outperformed Bitcoin, registering a meagre 0.04% dip in the past 24 hours. The second-biggest crypto is maintaining a stand above the 2,400-dollar mark. 

With a 1.01% surge in the past week, Ethereum is currently trading at 2,404 dollars. The fear among traders is natural, seeing as Fidelity reported a breach, leaking the data of 77,000 customers.

Ethereum’s 24-hour trading volume has surged 3.14% in the past 24 hours, with traders putting more faith in ETH.

XRP

XRP defied bearish sentiment by securing a 1.27% growth in 24 hours. The coin is trading above the 0.5-dollar mark with a 1.07% weekly surge.

Its 24-hour trading volume has witnessed a 51.70% growth, hitting 1.28 billion dollars. Despite the surge, traders are showing concern as the SEC is trying to tighten its grip on XRP.

In the meantime, analysts are predicting a 2 to 5-times jump in XRP’s price.

Popcat

Popcat, the SOL-based meme coin, jumped 6.51% in the past 24 hours. It is currently trading at 1.26 dollars and is eyeing the 1.5-dollar mark.

Its 24-hour trading volume is at 133.32 million dollars, showing a 24.58% jump. Its market cap has also taken a leap of 7.44%, reaching 1.26 billion dollars.

POPCAT is expected to experience a significant increase in the coming weeks, making it a profitable investment option.

NEIRO

NEIRO, or First Neiro, on Ethereum, has lost 16.04% in the past 24 hours. The coin has surged 66.18% in the past seven days, while its monthly performance shows a 3541% surge.

Despite the monthly jump, Neiro has lost 17.83% in 24-hour trading volume. The coin is constantly fluctuating, making it only ideal for high-risk, high-reward investors.