On October 6, 2024, the crypto market presented steady movements across significant digital assets. Key cryptocurrencies like $CFX, $FTM, $BONK, $AVAX, $BGB, $ETH, $BTC, $SUI, $CATI, and $NEIRO made notable shifts throughout the day. With over 30,474 currencies active, the market continues its resilient stance.
Daily Summary on October 6, 2024$CFX $FTM $BONK $AVAX $BGB $ETH $BTC $SUI $CATI $NEIRO#dailysummary #DeFi #Crypto pic.twitter.com/kSAP2hDosG
— PHOENIX – Crypto News & Analytics (@pnxgrp) October 6, 2024
Above all, Bitcoin ($BTC) is dominating the crypto market by 56.9% share and its price value is fluctuating around $62k. A crypto analytical platform, Phoenix shared this report through a social media X post, depicting the performance of different cryptocurrencies and ongoing crypto trends.
Crypto Market Overview and Capitalization
The industry’s market capitalization is $2.15 trillion, and the trading volume within a single day reached $35.85 billion. Bitcoin’s market share is still high at 56.9%, and the stable increase in BTC price to $62,020 is expressed.
In the past 24 hours, several cryptocurrencies experienced significant price bounces and dips. CFX surged by 9.13%, while FTM followed closely with a 5.30% increase. However, $AVAX and $BONK witnessed minor dips of -0.34%, bounce of 4.30%, and dips of -4.55% and bounce of 5.00%, respectively.
Meanwhile, $BGB showed a slight gain of -0.19% and a bounce of 4.30%, continuing its steady pace. These fluctuations reveal the diverse performance within the market, attracting various investment strategies.
Ethereum ($ETH) leads in liquidations, with over $6.16M million cleared in the last 24 hours. Bitcoin ($BTC) followed closely, with $4.83 million in liquidations, reflecting market volatility. Notably, $CATI and $NEIRO witnessed $1.98M and $1.48M significant liquidations respectively, signaling caution among traders of smaller-cap cryptocurrencies.
Fear and Greed Index and Market Sentiment
The market sentiment remains neutral, scoring 52 on the Fear and Greed Index. This balanced sentiment shows investors are cautious and confident enough to fuel steady trading. The short positions across exchanges stand at 50%, indicating a roughly even split between bullish and bearish outlooks in the market.
Gas fees were also moderate, standing at 5 GWEI, which enabled users and developers to conduct cheap transactions on the Ethereum blockchain. This decrease in gas fees might lead to increased activity in DeFi and NFT environments.
