The total capitalization of the cryptocurrency market has fallen to the level of $983 billion, according to CoinMarketCap.
At the same time, on CoinGecko capitalization is still above $1 trillion and shows an increase of 1.6% over the past day.
Now Bitcoin is holding at $21,384, Ethereum is above $1460.
Prior to this, Blofin analysts noted that the US stock market fell slightly, while the fall of cryptocurrencies stopped.
“However, the next shock from the Fed rate hike in July is just around the corner,” Blofin wrote.
1/9. The US stock market has fallen to some extent today, whereas the crypto market has stopped its losses. However, the next shock brought by the arrival of the Fed’s interest rate hike in July is upcoming. pic.twitter.com/4AGIMaRspC
— Blofin (@Blofin_Official) July 27, 2022
Analysts also pointed to the index of fear and greed. In their view, bearish sentiment in the digital asset market is “relatively stable.”
5/9. The Crypto Market Fear & Greed Index rose back a bit today. The index continued to stay in the ‘fear’ territory. It seems that the bearish sentiments in the crypto market are relatively stable. @ResearchVariant pic.twitter.com/9GGir8SzCB
— Blofin (@Blofin_Official) July 27, 2022