Bitcoin trades close to $29,000, BTC fear and greed index dips

In the past week, Bitcoin-related funds experienced a substantial outflow of $13 million, marking a notable reversal from the five consecutive weeks of bullish inflows. Adding to the concern, the Bitcoin fear and greed index declined to 50 out of 100, slipping by 5 points, reflecting a growing sense of caution in the market.

Amidst the regulatory landscape, the CEO of Binance, one of the world's largest cryptocurrency exchanges, has taken significant action in response to a complaint by the Commodity Futures Trading Commission (CFTC). The complaint alleges that Binance engaged in the sale of unregistered securities. The CEO filed two motions seeking to dismiss the complaint, and the outcome of this legal battle could have implications for the broader cryptocurrency industry.

In the meantime, the cryptocurrency space witnessed another significant development as Sam Altman, CEO, OpenAI, launched a new crypto token called "Worldcoin." This launch made waves in the market, resulting in an impressive surge of over 33 per cent in Worldcoin's price. The newly launched token also achieved a remarkable trade volume of over $145 million.

Prices listed were last checked at 10:00 am today according to Investing.com 

Bitcoin (BTC) 

Bitcoin is presently hovering near $29,082.4, recording a substantial decline in last week’s bullish sentiment. The market cap for Bitcoin has also reduced to $565.8 as the market outflows continued. 

Ethereum (ETH) 

Ethereum has also lost 1.25 per cent in the last 24 hours bringing the price down to $1,847.58 at the time of writing this report. On the other hand, the market cap for ETH also showed decreased to reach $221.98 billion.

Dogecoin (DOGE)

Dogecoin has gained 8.57 per cent in the last 24 hours, reaching the week's high at $0.07709. The market cap for Dogecoin has also moved up to cross the $10 billion mark, reaching $10.81 billion. 

Litecoin (LTC) 

Litecoin has shown a 3.51 per cent decline in its price with the market cap slipping further to $6.5 billion. Some on-chain experts have also predicted further crashes in Litecoin prices before the halving takes place.

Solana (SOL)

Solana lost 4.6 per cent in the last 24 hours with the market cap slipping to $9.3 billion. 

Ripple (XRP) 

Ripple has also ended up with red candles as prices fell further by 5.31 per cent in the last 24 hours. The market cap for the same has also fallen to reach $36.43 billion.