Crypto Market Overview for February 5,2024

"Welcome to our Crypto Insider news briefing!

Stay informed and up-to-date with the latest headlines of CRYPTO. From breaking news and current events to in-depth analysis and feature stories, our news briefings provide you with a comprehensive overview of what's happening today.

So sit back, relax, and let us bring the news to you. Let's dive into today's headlines!"

MARKET OVERVIEW (Today's Cryptocurrency Prices by Market Cap)

The global crypto market cap is $1.65T, a 0.66% increase over the last day.

The total crypto market volume over the last 24 hours is $37.86B, which makes a 27.10% increase. The total volume in DeFi is currently $4.21B, 11.13% of the total crypto market 24-hour volume. The volume of all stable coins is now $33.85B, which is 89.41% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 51.17%, a decrease of 0.06% over the day.

China stocks crash 8% in hours — 5 things to know in Bitcoin this week

BTC price action remains in a sticky range — one which saw January gains capped at just 0.6%. What might be next for the market?

Still battling the low to mid-$40,000 area, Bitcoin bulls so far lack genuine momentum required to overcome sell pressure and challenge range highs.

The road ahead looks increasingly bumpy: the halving is around two-and-a-half months away, and perspectives on how price will react both before and after differ considerably.

Some believe that major change is incoming and that Bitcoin might not only smash its way through local resistance but even set a new all-time high before mid-April. Other takes call for “business as usual” — no significant price action until months after the halving takes place.

The $50K Quest: Bitcoin Oracle’s Pre-Halving Proclamation Sparks Excitement

As the eagerly awaited Bitcoin halving event approaches in April, cryptocurrency analysts are engaging in spirited discussions about the potential trajectory of the leading cryptocurrency’s price.

Offering his insights, Michaël van de Poppe, the founder and CEO of MN Trading, has shared his predictions, outlining a period of consolidation before potential growth, with a particular emphasis on the anticipated outperformance of certain altcoins.

Stay tuned for tomorrow's updates as we bring you the latest news and information. We will keep you informed and provide you with all the necessary details.

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