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Bitcoin<\/strong> intraday returns exceeded those of altcoins as the global cryptocurrency market cap rose 0.9% to $1.3 trillion at press time.<\/p>\n

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Price Performance Of Major Coins<\/caption>\n

<\/p>\n

Coin<\/th>\n <\/p>\n	24-hour<\/th>\n <\/p>\n	7-day<\/th>\n <\/p>\n	Price<\/th>\n \n\t\t<\/tr>\n<\/thead>\n
Bitcoin<\/strong> BTC\/USD<\/span><\/td>\n <\/p>\n	1.4%<\/td>\n <\/p>\n	-3%<\/td>\n <\/p>\n	$29,609.99<\/td>\n \n\t\t<\/tr>\n
Ethereum<\/strong> ETH\/USD<\/span><\/td>\n <\/p>\n	-0.1%%<\/td>\n <\/p>\n	-5.8%<\/td>\n <\/p>\n	$1,977.28<\/td>\n \n\t\t<\/tr>\n
Dogecoin<\/strong> DOGE\/USD<\/span><\/td>\n <\/p>\n	-0.01%<\/td>\n <\/p>\n	-8%<\/td>\n <\/p>\n	$0.08<\/td>\n \n\t\t<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n \n\n\n\n\n\n\n\n Top 24-Hour Gainers (Data via CoinMarketCap)<\/caption>\n <\/p>\n Cryptocurrency<\/th>\n <\/p>\n 24-Hour % Change (+\/-)<\/th>\n <\/p>\n Price<\/th>\n \n\t\t<\/tr>\n<\/thead>\n Kava<\/strong> (KAVA)<\/td>\n <\/p>\n +12.6%<\/td>\n <\/p>\n $2.88<\/td>\n \n\t\t<\/tr>\n Tezos<\/strong> (XTZ)<\/td>\n <\/p>\n +11.5%<\/td>\n <\/p>\n $2.09<\/td>\n \n\t\t<\/tr>\n Ethereum Classic<\/strong> (ETC)<\/td>\n <\/p>\n +9.2%<\/td>\n <\/p>\n \u200b\u200b$23.99<\/td>\n \n\t\t<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n See Also: <\/em>How To Get Free Crypto<\/em><\/a><\/p>\n Why It Matters: <\/strong>Risk assets still remain unattractive for investors. On Tuesday, the S&P 500 and Nasdaq posted losses of 0.8% and 2.35%, respectively.\u00a0<\/p>\n The slowing growth in the economy is now visible in the earnings numbers of listed businesses like Snap Inc<\/strong> SNAP<\/span>, particularly those operating in the technology sector<\/a>.<\/p>\n Tuesday marked a return of risk aversion across asset classes with the exception of gold, noted Edward Moya<\/strong>, a senior market analyst at OANDA.<\/p>\n \u201cEverything is weakening at a faster clip than anyone expected and that does not bode well for the US consumer and for short-term outlooks for equities,\u201d said Moya, in a note seen by Benzinga.<\/p>\n Moya is pessimistic on cryptocurrencies in the near term. \u201cBitcoin is in the danger zone as sentiment for risky assets have fallen off a cliff. Normally plunging Treasury yields makes crypto attractive but right now no one wants to buy this dip,\u201d\u00a0he said.<\/p>\n Benchmark 10-year note yields fell to 2.738%, the lowest since April 27, according to a report<\/a> from Reuters.<\/p>\n The analyst said the apex coin could test the $25,424 level as the stock markets capitulation may not yet have taken place with the $20,000 level acting as a support zone.<\/p>\n The losses on the equities side have been more stark, cryptocurrency trader Micha\u00ebl van de Poppe<\/strong> reminded his Twitter followers. He pointed out that Amazon.com, Inc<\/strong> AMZN<\/span> alone has lost $900 billion in value in the past 6 months. The entire market cap for Bitcoin, on the other hand, is $550 billion.<\/p>\n <\/p>\n Remind yourself that $AMZN<\/a> has lost $900 billion in value in the past 6 months.<\/p>\n The entire market capitalization of #Bitcoin<\/a> is $550 billion only. pic.twitter.com\/OXTBfdd8N1<\/a><\/p>\n \n\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) May 24, 2022<\/a><\/p><\/blockquote>\n The gulf between Bitcoin price movement and altcoins has widened as investors lose their appetite for risk amid the erosion of positive sentiment.<\/p>\n This can be seen in the stark gap between the 7-day price movements of Bitcoin and Ethereum. While BTC is down 3%, Ethereum\u2019s decline over the week has been almost double that.<\/p>\n Over the quarter, Bitcoin domination has crept up to 44.51%, from 42.61%, according to data from CoinMarketCap.<\/p>\n Major Cryptocurrencies By Percentage Of Total Market Cap \u2014 Courtesy CoinMarketCap<\/em><\/p>\n Holder conviction in Bitcoin still remains intact as can be seen from the amount of supply last active greater than 10-years chart posted by Glassnode. This metric reached an all-time high of 2,443,600.434 BTC on Tuesday.<\/p>\n Bitcoin Total Supply Last Active >10 Yrs \u2014 Courtesy Glassnode<\/em><\/p>\n Meanwhile, Ethereum\u2019s average fee has dipped to just $2.54 per transaction, tweeted Santiment. The market intelligence platform pointed out that historically, ETH prices rise after the average transaction fee goes below the $5 mark, but warned that this is by no means automatic.<\/p>\n <\/p>\n #Ethereum<\/a>‘s average fees are at an extreme low, costing traders just $2.54 per transaction currently. This is the lowest $ETH<\/a> cost level since July. Historically (but by no means automatically), $ETH<\/a> prices rise after average transactions dip below $5. https:\/\/t.co\/JS3paxdfwz<\/a> pic.twitter.com\/hsc9BoGwPx<\/a><\/p>\n \n\u2014 Santiment (@santimentfeed) May 24, 2022<\/a><\/p><\/blockquote>\n Read Next: <\/em>This Bitcoin Knockoff Is Up 24% With Massive Volumes Even As Major Cryptos Slide<\/em><\/a><\/p>\n<\/div>\n