The cryptocurrency market has turned red today.

Almost all digital currencies witnessed declines and red indicators.

On the aggregate front, cryptocurrencies lost more than 7% bringing the total market cap of the cryptocurrency market down to less than $950 billion.

The biggest decliner of the big coins was Ethereum, which recorded a decline of nearly 9%, and Link, which fell by 9.4%…

While the enthusiasm and optimism about the crypto market is still present and has not decreased.

The fear and greed index, which was pointing to 90 at the beginning of the month, indicates that investors’ confidence and optimism remain, and is currently pointing at 70.

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Some indicators developed to track the movements of buying and selling bitcoin against the dollar indicate the tendency of the indicator towards selling:

According to a report published by data-tracking website Glassnode, the decline in bitcoin and altcoin prices is unlikely to continue more broadly as investors will have to sell their holdings at a loss.

According to the “aSOPR” indicator which represents the profit ratio of the exhausted production, which is a measure of the profit ratio of assets when it was last moved on the blockchain, Bitcoin is now stabilizing in a more stable rhythm.

The report says:

For SOPR to fall, investors must be prepared to sell at a loss, which is unlikely given the current market shape.

According to Glassnode’s Greed and Fear Index and Unrealized Net Profit/Loss chart, bitcoin is still doing well as an investment asset.

The pullback from $40K is seen as a necessary correction, not a capitulation.

Glassnode’s report on Bitcoin’s situation noted that while today may be bad news for day traders, it is just another day in the crypto market.

Read:Find out… How much bitcoin do you need to be among the richest 1% of bitcoin holders?

In another financial market, the American stock market, Wall Street achieved records yesterday, as the “S&P 500” and “Nasdaq” index recorded record closing levels at the end of the regular session.

Technology stocks led the rise on the back of what are expected to be positive earnings reports from technology giants “Apple” and “Facebook”.

“Apple” shares closed up 2.7% yesterday, “Facebook” shares rose 1.28%, and “Microsoft” and “Google” shares also rose.

Tesla was the best performer yesterday, with its stock rising 4.12% in one day’s trading.

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