Data from blockchain analytics firm Santiment shows that the mass perception of the recent decline is that the prices of the top six cryptocurrencies, including Bitcoin, Ethereum, BNB, as well as popular altcoin projects SOL and ADA, are facing massive amounts of FUD. In this article, let’s take a look at the current market correction with statistics. Details cryptocoin.com‘in.
Altcoin market decline deepens
All these massive cryptocurrencies suffered significant losses after Bitcoin slumped over 8% from the last $46,500 to the $42,000 region. Ethereum dropped below $3,200, following BTC. At the time of writing, the leading cryptocurrency is trading at $41,910. After reaching the $569 peak on December 27, BNB is now positioned in the $454 region. SOL hit $203 on Dec. 27 but is down more than 50% to $143 so far. As for ADA, it started to rise to $1,380 from $1,287 on Dec. 31 to 2022. The highest price ever in January for ADA was $1,384 on January 2. So far, it’s down to 1,248 and has lost almost eight percent at $1,349.
Fear and Greed Index hits lowest level since June 2021
On the other hand, the Bitcoin Fear and Greed Index shows a result of “10” indicating “extreme fear” in the crypto market. According to popular Chinese crypto journalist Colin Wu, this is the lowest level since July 21 last year. However, many see this as a good opportunity to buy dips.
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