Coin Gabbar Token

<h2 id="header-0">After a brief bullish rally, the broader crypto market once again turns bearish due to aggressive monetary measures adopted by global economies.</h2>The Bitcoin &#34;Fear and Greed Index&#34; still shows that the largest cryptocurrency is in extreme fear.At the time of writing, the global cryptocurrency market cap increased by 1.6% in the last 24 hours to $0.999 trillion. As per CoinGabbar data, the total crypto market volume over the last 24 hours was $57.18 billion.The crypto market leader, Bitcoin (BTC) is trading at $20,000 at the time of writing. This follows a 1.6% drop in the last 12 hours. As a result, its market capitalization stands at $384.92 billion. However, the 24-hour trading volume for BTC has decreased by 10.75% to $22,608,671,283.As per CoinGabbar statistics, ETH, the second largest cryptocurrency by market cap, is currently trading at $1,334.25, decreased 2.2% in the last 12 hours. Furthermore, its price has increased by 5.56% in the last week.Top Cryptocurrencies Price ActionAside from Ethereum, the altcoin market also turned into a bearish trend. After a short rally, Polygon Matic (MATIC) dropped around 1.59% in the last 12 hours. In the last seven days, it has increased by more than 13.5%. It is currently trading at $0.8243.After breaking its upward trend, the <a href="https://www.coingabbar.com/en/crypto-currency/cardano-ada-prices-usd" rel="noopener noreferrer nofollow">Cardano price</a> has dropped 2.8% in the last 12 hours. It is currently trading at $0.4269. Meanwhile, Solana has dropped more than 1.91% and is currently trading at $33.54.The price of Dogecoin (DOGE) has dropped by 2.75% in the last 12 hours. DOGE is currently ranked tenth in CoinGabbar&#39;s top cryptocurrency ranking in terms of market cap. At the time of writing, the price of DOGE was trading at $0.06245.LooksRare (LOOKS) continues to lose traction among cryptocurrency traders and influencers. It dropped by 3.4% in the last 12 hours and is currently trading at $0.215.What Turns Crypto Market Bearish?The <a href="https://www.coingabbar.com/en/crypto-currency-news-english/experts-believe-cryptocurrency-market-is-nearing-another-bottom" rel="noopener noreferrer nofollow">cryptocurrency market</a> is still highly correlated with the broader general market. As a result, macroeconomic variables will continue to drive price fluctuation. In addition, the CME Fed Watch tool still predicts another 75 basis point raise for the next Fed meeting.Major Events Around the World<ul><li>The European Parliament voted in favor of a more coordinated and fair taxation system for cryptocurrencies, as well as the use of blockchain technology to provide a more comprehensive approach to preventing tax evasion. The resolution was favorably accepted by the house, with more than 80% of Members of the European Parliament (MEPs) voting in favor of it.</li><li>Scott Eastwood, a Hollywood star, has announced a collaboration with Pastel Network to offer free NFTs to market traders. In an interview, the famous actor addressed the giveaway while expressing his skepticism about the crypto industry.</li><li>The FBI&#39;s Miami Field Office has issued a warning that crypto ATMs are becoming a popular method for scammers to receive funds from deceived victims.</li></ul>The information was revealed as part of an October 3 public warning regarding pig butchering scams, in which fraudsters act as long-lost friends or potential romantic partners in order to steal money from victims.COINGABBAR VIEWS: The downturn in cryptocurrency markets may be related to the instability of traditional markets and geopolitical events. The financial climate has shifted dramatically as cryptocurrency investors go through difficult times. As a result, it may predict that additional losses may occur if the <a href="https://www.coingabbar.com/en/price-analysis" rel="noopener noreferrer nofollow">crypto market</a> fails to maintain its key levels.Read also: <a href="https://www.coingabbar.com/en/crypto-currency-news-english/bitcoin-price-analysis-cmp-bitcoins-price-has-soared-above-will-it-hold" rel="noopener noreferrer nofollow">BITCOIN PRICE ANALYSIS CMP-$20,200: Bitcoin&#39;s price has soared above $20,000? Will it hold?</a>

12 Hrs Crypto Update 05, Oct: Crypto Market Witnesses High Volatility

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