Token

Cardano

Solana

Millions

<p>The total crypto market capitalization currently stands at $1.64 trillion, down 0.78% over the last 24 hours at press time. This downtrend, while relatively small, has affected major cryptocurrencies like Bitcoin, Ethereum, Chainlink, XRP, and Cardano, which are down between 1-3% on the day.</p> 
<p>These types of slow, gradual downtrends are actually the most boring ones in crypto. Even though it may seem counterintuitive, traders and bulls could become more excited by sharper sell-offs than by these sluggish declines. Steeper crashes show the market taking profits and would offer buying opportunities, while these dreary downward crawls suggest a lack of conviction in either direction. </p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="534" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-132-1024x534.png" alt="" class="wp-image-432146" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-132-1024x534.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-132-300x156.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-132-767x400.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-132-1536x801.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-132-2048x1068.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-132-288x150.png 288w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-132-100x52.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-132-671x350.png 671w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-132-788x411.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-132.png 1413w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>Though dull, these periods signify the market catching its breath after previous rallies rather than wholesale panicking. Still, they try the patience of traders waiting for the next significant move.</p> 
<p>Over the past week, the total crypto market cap has traded in a range between $1.55 trillion and $1.65 trillion, unable to break out in either direction. Looking at the daily Relative Strength Index (RSI), a momentum indicator, we can see why. </p>  
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0">
  <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p>The key? Getting in early, especially during the IDO phase. <strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank">Get in on NuggetRush</a></strong> now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the<strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank"> current ICO prices</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div> 
 </div>
</div> 
<p>The RSI is currently sitting at 45, right in the middle of its range. Readings of 30 and below indicate oversold conditions signaling a market bottom, while readings of 70 and above indicate overbought conditions typical of market tops. A reading of 45 suggests indecision in the market, consistent with the narrow trading range.</p> 
<p>Despite the slight declines, overall activity across major crypto platforms like Telegram, Twitter and CoinMarketCap seems muted this weekend. Traders appear to be taking a lazy weekend for now. Unless Bitcoin and major altcoins can post decisive moves up or down from current levels, expect more of the same directionless action in the days ahead. </p> 
<p>However, with the market looking indecisive based on momentum indicators, a larger move could still be in the cards once traders return from the weekend.</p> 
<p>You may also be interested in:</p> 
<ul> 
 <li><a href="https://captainaltcoin.com/why-is-arcblocks-abt-surging-how-much-would-1000-investment-in-the-token-be-worth-at-1-billion-market-cap/" target="_blank" rel="noreferrer noopener">Why Is Arcblock’s ABT Surging? How Much Would $1000 Investment in the Token Be Worth at $1 Billion Market Cap?</a></li> 
 <li><a href="https://captainaltcoin.com/if-cardano-mirrors-the-2020-path-heres-when-ada-might-peak/" target="_blank" rel="noreferrer noopener">If Cardano Mirrors the 2020 Path, Here’s When ADA Might Peak</a></li> 
 <li><a href="https://captainaltcoin.com/solana-sol-holder-moves-over-50-ethereum-eth-into-revolutionary-pushd-presale-which-is-now-still-only-0-08/" target="_blank" rel="noreferrer noopener">Solana (SOL) Holder Moves Over 50 Ethereum (ETH) Into Revolutionary Pushd Presale Which Is Now Still Only $0.08</a></li> 
</ul> 
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""> 
 <div class="col_wrap_two mb0"> 
  <div class="offerbox_big_wrap flowhidden"> 
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"> <a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a> 
   </div> 
   <div class="product-summary col_item mobileblockdisplay"> 
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-nofollow-sponsored-span-check-nuggetrush-nugx-span-a"> <a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> <span>Check NuggetRush ($NUGX)</span> </a> </h3> 
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div> 
    <div class="buttons_col mb25 rh_big_btn_inline"> 
     <div class="priced_block clearfix"> 
      <div> <a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> Buy NUGX Today </a> 
      </div> 
     </div> 
    </div> 
    <div class="bigofferdesc">
     <i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a href="https://captainaltcoin.com/why-is-the-crypto-market-down-today-18/">Why Is The Crypto Market Down Today?</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Why Is The Crypto Market Down Today?

Table of Contents

CaptainAltcoin

Other articles published on Feb 4, 2024

3 cryptocurrencies to turn $100 into $1,000

Bitcoin Maintains Stability at $43,000 While Altcoins Show Minimal Movement

FTX Expands Sell-Off: AI Startup Stake Next to Go

Jupiter Price Prediction: JUP Pumps 28% As This Innovative Bitcoin Cloud Mining Presale Hurtles P...

Artists Lose Legal Battle Against Bored Ape Yacht Club Creators

Global investors wary of China’s equity market – Why?

Join our free newsletter for daily crypto updates!