The past 24 hours saw the cryptocurrency market calm down a bit, with no major changes happening across the top 10 coins by means of total capitalization. Some cryptocurrencies did better than others. Let’s get into it.

Bitcoin Calms at $24,000

After a serious run-up from $22,800 to almost $25,000 in the previous two days, Bitcoin’s price has finally calmed down and trades at around the $24K mark.

It appears that volatility surrounding July’s CPI numbers is over and the market has moved on to the next direction.

Source: Binance via TradingView

That said, BTC failed to overcome the $25K level before retracing to where it currently trades, but overall – in the past 24 hours – it’s down some 2%.

Altcoins Flat. Red Prevails

Despite relative calm, it seems that the market has taken a break from recent rallies and is trading primarily in the red.

Source: Quantify Crypto

As you can see in the heatmap, most cryptocurrencies have seen a slight decline in value over the past day. Ethereum Classic (ETC) is the most notable exception. It managed to increase by a whopping 10% in an otherwise boring market. This increase was possible due to more news about the Ethereum 2.0 merger. Investors might be trying to hedge against the possibility that Ethereum 2.0 will fail.

Other major gainers include Huobi Token (up 20%) and ANKR (up 40%). The latest soared after Binance Labs revealed a strategic investment in Ankr Protocol without disclosing the actual amount.

Meanwhile, market sentiment continues to improve. According to the Cryptocurrency Fear & Greed Index, which currently sits at 42 basis points, the prevailing sentiment is still “fear.” However, this time last month, the index was at 15 basis points, meaning that the past 30 days saw meaningful improvement.


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Cryptocurrency charts by TradingView.