There’s a lot of talk about meme coins, but the rest of the cryptocurrency world is having a rough time with prices moving and everyone having mixed feelings. The value of major assets like Bitcoin and Ethereum is going down, which could mean that the market is about to change.
People who own meme coins are making loads of currency.A new study by an analyst looks at how people feel about the crypto market as a whole, with a focus on major currencies like Bitcoin, Ethereum, and Binance BNB. The Weighted Sentiment measures show an uncertain future, with Bitcoin and Ripple having the worst sentiment.
Bitcoin And Ethereum Prices Decline
In line with this feeling, Santiment’s chart shows a downward trend from May 8th to May 14th, which was also seen in April and March. People are trying to get back on track, but Bitcoin and Ethereum are still having issues, as shown by the fact that their prices are going down.
One more day, on May 14, Bitcoin’s price fell below $61,000, a drop of over 2%. It went back up quickly, though, and went over $62,000. Because of the same thing, Ethereum quickly went down and stayed around $2,800 before going back up to around $2,900.
But these changes add to a general feeling of negativity, which is reflected in the drop in market value over the last 24 hours. The market capitalization has gone down by 1.3%, currently sitting at about $2.27 trillion, even though trade volume has gone up by over 27%.
The fear and greed measure is almost at the alert level at 55. This shows how worried people are about the market. Meme coins keep going against market trends, even though the future isn’t clear. This has helped some buyers make enormous profits.
