Fading crypto market enthusiasm
Market picture
The crypto market lost ground late in the day on Tuesday, falling to $3.08 trillion, but managed to recoup the losses and get back to $3.15, where we saw it 24 hours ago. The market has traded mostly in the $3.10-3.30 range for the past two weeks. This sluggish trading pattern has had a negative impact on trading volumes and can be frustrating for cryptocurrency speculators in general.
The Crypto Market Sentiment Index has fallen from 47 to 44 (Fear), its lowest level in the past 10 days. This is an indirect sign that even the market’s relative stability is dampening sentiment. Most worryingly, at current sentiment and capitalization levels, the markets have yet to attract sell-off hunters and…
