Cryptocurrencies continue to decline

Continue the negative streak in the cryptocurrency market after the collapse of the FTX exchange platform. In that sense, the Bitcoin fell 0.62% and stood at around u$s 16,945.50.

Meanwhile, the Ethereal registered a decline of 1.17%, leaving its price in the range of $1,200. When comparing trading to the previous week, both currencies lost 0.2% and 0.5%, respectively.

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The Bitcoin Fear or Greed Index stands at 25 pointswhich represents a situation of extreme fear and an indication of a possible decline in the market in the short term.

One thing to keep in mind is that, despite failing to return to trading near all-time highs, the leading cryptocurrency in the market had a significant rebound in the last 15 days. Thus, I go from a minimum of US$15,506 on November 21 to the current price of around US$17,000.

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Cryptocurrencies in decline

The ten cryptocurrencies with the largest market volume are also trading lower. The pullback is led by Dogecoin, which has lost 5% over the past day to leave its price in the $0.1 range.

It is followed by Cardano, with a 3% drop, which leaves its price at $0.31; Polygon with a decrease of 2.7% to trade at u$s 0.9; Binance Coin, which loses 2.2%, placing its price at US$288; and Ripple down 1.9% to trade at $0.38.

In the comparison of the last 7 days, only two of the main cryptocurrencies are in the green: Polygon is up 8% and Cardano is up 1%. While Binance Coin is down 4%, Dogecoin is down 3% and Ripple is down 2% compared to last week.

RM / LR