Posted by Xoken.org – The crypto market is trending lower today Tuesday (30/4/2024) amid the failure of Hong Kong crypto spot exchange-traded funds (ETFs).
Referring to CoinMarketCap on Tuesday (30/4/2024) at 07:11 WIB, the crypto market tends to weaken. Bitcoin rose 0.81% to US$63,755.75 while on a weekly basis it was in the negative zone of 4.66%.
Ethereum is in the red zone 2.1% in the last 24 hours and in a week tends to stagnate 0%
BNB experienced a daily depreciation of 1.3% and a weekly decline of 2.25%.
Likewise, Dogecoin was in negative territory 2.86% in the last 24 hours and in the last seven days collapsed 11.34%.
CoinDesk Market Index (CMI), which is an index to measure the market capitalization-weighted performance of the digital asset market, rose 0.5% to 2,529.5. Open interest appreciated 0.13% to US$55.95 billion.
Meanwhile, the fear & greed index reported by coinmarketcap.com shows the number 57, which indicates that the market is in a neutral phase with the current economic conditions and crypto industry.
Quoted from coindesk.com, the upcoming debut of a Hong Kong crypto spot exchange-traded fund (ETF) failed to spark excitement among investors.
Although Hong Kong’s spot-based bitcoin and ether ETFs will begin trading on Tuesday morning local time, the impending debut hasn’t sparked the same level of anticipation leading up to the event as the fever pitch that preceded the US spot bitcoin ETF.
The crypto market has moved sideways over the past few weeks due to the lack of a strong investment narrative to drive prices, winding down from last month’s record-breaking BTC price action as well as the altcoin and memecoin frenzy scatter hitam.