Cryptocurrency Market Update: Bitcoin (BTC) and Ethereum (ETH) See Downward Pressure, While Polkadot (DOT) Registers a Gain

Bitcoin remains the leader in the cryptocurrency market, but it has faced downward pressure in the past week. The asset has lost 0.81% in the last 24 hours

Bitcoin (BTC) showed resilience on Monday, registering a slight gain of 0.11% over the past 24 hours. However, the world's leading cryptocurrency faced downward pressure over the past week, marking a 0.81% decrease, according to data from CoinMarketCap.

Bitcoin's price hovered around $56,689.76 at the time of writing, as the asset continues to navigate regulatory concerns and the influence of crypto whales in the market.

Bitcoin's 24-hour trading volume stood at $34,333,833,134, indicating a 3.39% decrease in liquidity. Among the top cryptocurrencies, Bitcoin Cash (BCH) led the gains with a 6.32% rise, while NEAR Protocol (NEAR) and Polygon (MATIC) also saw single-digit increases. On the other hand, Solana (SOL) and XRP experienced further declines of 1.59% and 1.46%, respectively.

Meanwhile, the crypto market fear and greed index remained in the fear zone on Monday, with a score of 24 out of 100. This reading suggests that investors are still apprehensive about the market's performance and are exhibiting a risk-averse approach.

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