As of November 23, 2024, the cryptocurrency market shows the following key metrics:
🔷 Market Capitalization: $3.35 trillion
🔷 24-Hour Trading Volume: $221.5 billion
🔷 Fear and Greed Index: 87% (Extreme Greed)
🔷Dominance:
The Fear and Greed Index at 87% indicates a market sentiment of extreme greed, suggesting that investors are highly optimistic. Historically, such levels have often preceded market corrections, as overconfidence can lead to overvaluations.
Bitcoin's dominance at 58.21% highlights its significant influence over the crypto market, making it a key indicator for market trends. Ethereum, with a 12.02% dominance, remains a strong contender in the altcoin space.
Investors are advised to approach the market with caution during periods of extreme sentiment and consider diversification to manage potential risks effectively.
