Market review
Last week (7.3-7.9),when will pi coin launch on binance the cryptocurrency market, as a whole, experienced a decline, erasing the gains from July 6th to July 2nd and forming a "reverse V-shaped" volatile trend.
Among them, the total market cap dropped from a low of 1.22 trillion dollars to 1.17 trillion dollars, with a significant decrease of 4%. Afterwards, there was a slight rebound.
The market sentiment index rose initially from 58 to 61, but then dropped to 57. Greed sentiment has weakened somewhat, and there is a greater likelihood of further decline.
Trends of total cryptocurrency market capitalization(blue) and fear greed index(yellow) from January 1, 2023, to July 9, 2023; Source: MacroMicro.
In terms of individual tokens/coins, the overall performance is declining, with a decrease of over 3%. Among them, Solana (SOL) is bucking the trend and performing the best, with an increase of 11%; Litecoin (LTC) has experienced the largest decline, reaching 11%.
The price of Bitcoin (BTC) has dropped by 3.2%, but its market dominance has increased by 0.49% (rising from 49.42% to 49.91%). On the other hand, the price of Ethereum (ETH) has fallen by 4.7%, and its market dominance has decreased by 0.4% (dropping from 19.41% to 19.01%). It can be observed that during a bearish market, BTC shows more resilience and is favored by investors.
Fluctuation range of mainstream cryptocurrencies from July 3rd to July 9th, 2023; Source: MacroMicro.