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Is the Crypto Bull Run Over?
The cryptocurrency market is reeling from a massive 8.71% drop in the last 24 hours, with the global market capitalization now standing at $3.22 trillion. Bitcoin (BTC), which has been dominating the space, has suffered a 7.89% price decline to reach $93,937.54.
Despite this, the digital currency still maintains an impressive 57.79% share of the overall market dominance. Ethereum (ETH) and Solana (SOL) have also taken a significant hit, with prices plummeting by double-digit percentages. The price drop has led to heightened trading activity, signifying investor caution amidst the turmoil.
On the brighter side, MOVE has emerged as one of the top performers, recording a 10.93% gain in the last 24 hours. HBAR and MNT have also shown resilience, with gains of 2.01% and 0.41%, respectively.
Market experts are left scratching their heads as they attempt to decipher the sudden downturn. Some argue that this could be an opportunity for savvy investors to buy into the market at discounted prices. Others believe that this is a clear indication that the crypto bull run has finally come to an end.
Despite the confusion, it’s essential to remember that cryptocurrency markets are notorious for their unpredictability and volatility. A single day’s performance does not necessarily dictate long-term trends.
Source: coinpedia.org
