Biggest Crypto Gainers Today on DEXTools – BLUI, BONESHI, KRYDOG
Bitcoin and other major cryptocurrencies are seeing little price movement today, extending the phase of low volatility that the cryptocurrency market has been seeing over the past few days.
The price of Bitcoin has been hovering around $25,600 for the majority of today, slightly below the $26,000 level at which it has been trading throughout the past two weeks.
According to analysis from crypto market intelligence company Glassnode, both spot and derivatives markets are experiencing declining liquidity and capital outflows as investors hesitate to re-enter the crypto space.
This contrasts with the excitement recently seen in traditional stock markets, with the Dow Jones Industrial Average and S&P 500 reaching new highs.
Many crypto traders have been anticipating potential catalysts like the approval of spot Bitcoin exchange-traded funds (ETFs), which could draw fresh capital into the cryptocurrency market.
But a lack of regulatory clarity on this front, combined with crypto's characteristic volatility being strangely absent, seems to be dampening interest for now.
Besides Bitcoin, Ether, the second-largest cryptocurrency, was nearly unchanged over the past day at around $1,630.
Other altcoins saw mixed but muted price movements, with Binance Coin gaining 0.48% and Cardano slipping 0.20%.
While it's too soon to determine if this loss of momentum spells long-term trouble for the crypto market, the lack of volatility that once characterized the cryptocurrency market appears to be reducing its appeal for short-term traders and speculators.
As Bitcoin hovers in a holding pattern, market participants are seeking bigger gains in lesser-known cryptocurrencies.
BLUI, BONESHI, and KRYDOG are surging as some of the biggest crypto gainers
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