Crypto market sees minor decline, BTC struggles to maintain $29,100 mark

All cryptocurrencies witnessed a minor decline in their prices in the last 24 hours along with the global crypto market cap declining by 0.5 per cent. Bitcoin slipped below its resistance and currently ranges between $29,000 to $29,100, bringing in some negative sentiment with money flowing out of the markets. 

The fear and greed index for cryptocurrencies also slipped by 3 points to reach 50/100 indicating a bearish crypto market sentiment. 

The US unemployment rates have also surprised by registering at 3.5 per cent, surpassing the projected 3.6 per cent. However, the count of newly added jobs fell short of expectations. Financial analyst Holger Zschaepitz remarked that the data's interpretation lacked definitiveness. 

While talking about the ongoing negotiations with SEC, Brian Armstrong, CEO, Coinbase exchange, said that leaving the US is 'not even in the realm of possibility right now.' Along with that, NFT-Fi protocol JPEG’d has confirmed that 5,495 Ether worth roughly $10 million at current prices, has been returned by the Curve Finance hacker to the company, marking some good news for the crypto markets.

Prices listed were last checked at 09:00 am today according to Coinmarketcap.com

Bitcoin (BTC) 

Bitcoin, along with other prominent cryptocurrencies, moved in a tight range in the last 24 hours but could not maintain its resistance of $29,100. The price and market cap of Bitcoin showed a decline, falling by 0.3 per cent and 0.29 per cent respectively. Currently, Bitcoin is trading at $29,048. 

Ethereum (ETH) 

Ethereum has also shown subtle movements in the chart, moving within the range of $40. Presently, ETH is trading at $1,829.81 with an overall decline of 0.2 per cent in the last 24 hours. The market cap of the ETH also fell by 0.25 per cent and currently hovers below $220 billion.

Dogecoin (DOGE)

Dogecoin also suffered another 0.81 per cent decline in the last 24 hours and currently trades at  $0.07365. The trade volume of dog-based meme crypto tokens also fell by 18.63 per cent, after recording high activity on Thursday. Dogecoin’s market cap fell by 0.92 per cent but still ranged above $10 billion.

Litecoin (LTC) 

After suffering a severe decline in its prices on Thursday, LTC did not lose much in the last 24 hours, marking a decline of only 1 per cent. However, the trade volume of the token fell by over 25 per cent followed by more money moving out of the token’s market cap, taking it just above $6 billion. 

Solana (SOL)

Solana is currently trading at  $22.69 with a market cap of $9.18 billion. The price of Solana remained relatively stable with only a 0.07 per cent decline in the last 24 hours. 

Ripple (XRP) 

Ripple is currently trading at $0.6223 recording a 6.24 per cent decline in the last 24 hours. The market cap of XRP also fell by 6.17 per cent, however, trading volume has increased by over 7.33 per cent.