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Bitcoin Hovers Around $19,900; Market Dominance Back Above 40%

KEY POINTS

  • The best performers were UNI, UNI, XEC and CSPR
  • The fear and greed index rose to 23
  • The top losers were SHIB, ETC, LINK and LIDO

The crypto market opened on a bearish note Friday with leading cryptocurrencies Bitcoin (BTC) and Ether (ETH) in red.

Bitcoin failed to retain the psychological support level of $20,000, which it broke Wednesday. Meanwhile, Ether remained above $1,300.

The trading volume of BTC dropped 11.82% in the last 24 hours, while that of ETH was up slightly by 0.19%. The price of BTC dropped 1.93%, while ETH took a dip of 1.46% in the same period.

BTC and ETH tokens were priced at $19,992 and $1,356, respectively, as of 12:10 a.m. ET, according to data from CoinMarketCap. The crypto fear and greed index was once again in the “extreme fear” zone as its value dropped to 23.

BTC was up 3.05% in the last seven days, while ETH’s price jumped 2.25%.

Every other coin in the top 10 of the crypto market showed bearish movement with Binance Coin (BNB) down 3.98% to $284.57, Solana (SOL) down 1.98% to $33.64, Cardano (ADA) down 1.57% to $0.4282, Dogecoin (DOGE) down 3.95% to $0.0635 and Ripple (XRP) down 1.63% to $0.4892.

The top gainers included Tron (TRON), which was up 0.55% to $0.0631; Uniswap (UNI), which was up 1.09% to $7; eCash (XEC), which was up 1.19% to $0.0000432 and XDC Network (XDC), which was up 4.52% to $0.03157.

The top losers in the crypto market were Shiba Inu (SHIB), which was down 3.26% to $0.00001121; Ethereum Classic (ETC), which slipped 2.41% to $27.73; Chainlink (LINK), which was down 2.68% to $7.70 and Lido DAO (LIDO), which dropped 4.21% to $1.50.

Other major tokens that were bearish as of 12:13 a.m. ET included Polkadot (DOT), which dropped 1.87% to $6.37 and Polygon (MATIC), which dipped 0.43% to $0.8433.

Casper (CSPR), on the other hand, rose 10.36% to $0.03517.

Crypto
The underlying message is that self-custody of crypto is far too risky, in contrast to the security of traditional bank or brokerage accounts and crypto institutions. 
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