After a choppy end last month, the crypto market is starting October with some modest improvement. Sunday’s session was mixed due to investor angst over the Fed announcement and the global economic outlook.
Many of the top cryptos by market cap were seen trading in the red, with a few exceptions like Binance Coin (BNB). Ripple (XRP) led the way down, sliding by 5.64%. It eventually witnessed a return to $0.45. Mirroring it was Cardano (ADA), which also traded in the red, losing 2.56%. Dogecoin (DOGE) and Ethereum (ETH) followed with 2.16% and 2.65% drops, respectively.
Following a 0.59% decline on Saturday, Bitcoin (BTC) too fell by 1.29%. Despite the decline, BTC ended the week on a high, up by 1.33%, at $19,067 as of 2 October 2022.
Crypto Fear and Greed Index
Despite the mixed session, the Crypto Fear and Greed Index, which measures the market sentiment, stayed at 24/100, indicating extreme fear. This has to do with the fact that the index mostly reflects price action in relation to BTC, which fell below the $19,000 mark. This marks a slight improvement in the index, which was at 21/100 on Friday.
The index will need to avoid tipping below 20/100 to support market sentiment. A fall below this would mean BTC’s price is plummeting below the second resistance level of $18,000.
Top gainers and losers
According to live data from CoinSwitch, among the top losers is XRP, continuing its downward trend from the weekend. XRP is currently down by 5.44%. However, the most lackluster performance is by Chiliz (CHZ), which is continuing its losing streak and is down by 10.12% at publishing time.
Although many of the top cryptos by market cap are in the red, some coins are still managing to add shades of green to the market scene. They are:
Alien Worlds (TLM): +5.61%
Maker (MKR): +5.03%
Nano (XNO): +3.96%
Since the market keeps changing, please check the live data via the link above before making any major decisions.
