Posted by Xoken.org – The crypto market is moving varied today, Sunday (19/5/2024). Several coins were observed to experience strengthening especially after the positive sentiment that occurred at the beginning of the year.
Referring to CoinMarketCap on Sunday (19/5/2024) at 06:33 WIB, the crypto market moved variedly. Bitcoin rose 0.16% to US$66,986.18 and was in the positive zone of 9.97% on a weekly basis.
Ethereum was in the green zone 0.92% in the last 24 hours and in the week rose 7.15%. BNB experienced a daily depreciation of 0.23% and a weekly decline of 2.2%.
Likewise, Solana is in positive territory 1.66% in the last 24 hours and in the last seven days flew 18.14%.
CoinDesk Market Index (CMI), which is an index to measure the market capitalization-weighted performance of the digital asset market, rose 0.27% to 2,622.83. Open interest appreciated 1.32% to US$61.81 billion.
Meanwhile, the fear & greed index reported by coinmarketcap.com shows the number 62, which indicates that the market is in a neutral phase with the current economic conditions and crypto industry.
Quoted from cointurknews, the latest report by leading on-chain analysis firm Santiment, the crypto community’s interest shifted to BTC after its price briefly exceeded US$67,000.
This Santiment statement is based on the Weighted Sentiment metric, which generally expresses positive or negative sentiment in a cryptocurrency.
The indicator has two sub-metrics: sentiment value and social volume.
The sentiment value metric evaluates whether the community has a negative or positive view of the cryptocurrency under consideration, while social volume measures the total mentions of an asset on social media.
The Weighted Sentiment Indicator appears as a result of sentiment value and social volume. When social volume is high and significant average sentiment (positive or negative) is observed, important changes in metrics are also visible.
According to Santiment analysis, Bitcoin’s weighted sentiment reached its highest value since January following the recent price increase. This sentiment around Bitcoin last emerged after the Securities and Exchange Commission approved a BTC spot ETF in the United States.