**Bitcoin and Other Crypto Tokens Recover, Market Sentiments Turn Bearish**
Bitcoin and other crypto tokens experienced a slight recovery from the previous day’s losses, but the gains were limited by a bearish turn in market sentiments.
*Bitcoin and Ethereum Show Slight Recovery*
Bitcoin rebounded from levels under $26,000, but the lack of new catalysts prevented a significant rally in the markets. It remained range-bound, with the largest crypto token holding firm at around $26,000, while Ethereum also maintained its position above the $1,650 mark. Altcoins experienced higher price action during early trading.
*Market Remains Range-Bound*
Over the past 24 hours, the crypto market has traded sideways with minor gains. The fear and greed index also showed no change, remaining in the fear zone with a score of 39 out of 100. According to Shubham Hudda, Senior Manager at CoinSwitch Markets Desk, the market has been seeing some of its lowest trading volumes in a long time.
*Longest Bear Market*
Hudda noted that the ongoing bear cycle of Bitcoin has lasted more than 500 days, making it the longest bear market in the entire crypto lifecycle. In addition, there was a major announcement from Mukesh Ambani, who revealed that Jio’s financial services division may start offering blockchain-related products, such as the recently launched e-Ruppee.
*Crypto Market Update*
While most top crypto tokens were trading slightly higher, a few exceptions existed. Polkadot gained over 3%, Shiba Inu posted similar gains, and Toncoin, Cardano, and Polygon advanced approximately 2% each. On the other hand, Tron shed more than 1%, and Solana experienced a slight decline.
*Global Crypto Market Cap*
The global cryptocurrency market cap increased marginally to the $1.05 trillion mark, with a 38% surge in total trading volumes, which reached $24.26 billion.
**Tech View by WazirX Trade Desk**
The article discusses Galxe (GAL), a Web3 credential data network that saw a price gain of over 8% with its price almost touching the 60 level on the RSI. Additionally, the article highlights the daily trend and the expected resistance and support levels for the coin.
Finally, the article provided links to other business-related news for readers to further explore.
Overall, despite a slight recovery in the crypto market, bearish sentiments continued to limit significant gains in the wake of ongoing market volatility.
I have been writing about crypto for over two years. I have a vast amount of experience in the industry and my work has been featured on some of the biggest publications in the space.
