While Bitcoin (BTC) was falling, these altcoins outperformed the market!
Although the Federal Reserve left interest rates unchanged yesterday evening as expected, hawkish statements from Fed Chair Jerome Powell triggered a sharp decline in Bitcoin ($BTC) and altcoins.
Bitcoin fell below $70,000, while Ethereum also declined to around $2,100.
While other altcoins suffered significant losses, some, despite the correction, performed better than the overall market, misleading those who expected a decline.
Among the altcoins that outperformed $BTC and most other altcoins were Dexe ($DEXE), Quant ($QNT), River ($RIVER), Kaspa ($KAS), and JUST ($JST).
According to CoinMarketCap data, $DEXE (13.05%), $QNT (9.8%), $RIVER (4.1%), $KAS (3.9%), and $JST (2.9%) were among the top-performing altcoins, outperforming the market.
According to CoinMarketCap data, the following cryptocurrencies recorded the biggest losses over the last 24 hours: 1st place — Mantle (MNT) with a loss of 10.5%, 2nd place — Worldcoin (WLD) with a loss of 9.9%, 3rd place — Bittensor (TAO) with a loss of 8.9%, 4th place — Zcash (ZEC) with a loss of 7.5%, and 5th place — RENDER with a loss of 6.7%.
A popular analytics company that attempts to measure investors’ emotional reactions to cryptocurrencies today calculated the “Fear and Greed Index,” which came in at 23 out of 100, indicating extreme fear. This index is calculated based on market volatility, trading volume dynamics, social media interest, Bitcoin dominance charts, and trends in online research related to cryptocurrencies.
See also: "Bitcoin stabilizes near $71K after drop amid rising oil prices"
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