Global Cryptocurrency Market Cap Dips 1.29% to $2.89T, Bitcoin (BTC) Dominance at 63.4%

Despite the decrease, the market continues to show resilience, with Bitcoin maintaining dominance at 63.4% and Ethereum at 7.4%.

The global cryptocurrency market cap has witnessed a slight dip of 1.29% in the last 24 hours, now standing at $2.89 trillion, with daily trading volumes reaching $106.53 billion. Despite the decrease, the market continues to show resilience, characterized by a 0.24% decline in the past hour and a 1.29% drop over the last day.

As reported by CoinGecko, Bitcoin (BTC) has experienced a modest increase of 1.47% in the past day, trading at $92,330.09. This marks a 8.93% growth over the last week, further solidifying its strong position in the market.

Close behind is Ethereum (ETH), which gained 1.31%, currently priced at $1,767.29, and has shown a 10.40% rise over the past week.

However, the standout performer today is TRUMP (TRUMP), which surged by an impressive 30.81%, reaching $12.29. The rise in TRUMP’s value reflects growing interest in meme-based tokens and their speculative trading, especially after the success of Pepecoin (PEPE).

Among the altcoins, SYN (SYN) and ALPACA (ALPACA) are making headlines with gains of 27.96% and 16.17%, respectively, while MEMEFI (MEMEFI) has skyrocketed by 88.13%, indicating a strong bullish sentiment in some smaller altcoin markets.

Despite the general upward movement, the Fear and Greed Index remains neutral at 53, showing that market sentiment is cautiously optimistic, with traders and investors keeping a close eye on the macroeconomic environment.

In notable news from the institutional space, MicroStrategy’s Bitcoin holdings surpassed $50 billion, a significant milestone in corporate cryptocurrency investment.

As Bitcoin continues its steady rise, and altcoins follow suit, the market’s performance remains dynamic as traders and investors navigate these fluctuating trends.