Bitcoin, Ethereum underperform as crypto market remains bearish

Recent data indicated an overall negative sentiment prevailing in the market, potentially paving the way for an uptrend in the near future.

However, as of now, the market capitalization is on the decline, with major assets experiencing decreases in value over the past 24 hours.Similar patterns of universal bearishness were observed from the 10th to the 16th of April, as well as the 13th to the 19th of March.The market cap had decreased by over 1.3% to approximately $2.27 trillion at the time of this writing. Despite this decline, the volume has surged, showing an increase of over 27% to around $68 billion.

Furthermore, the fear and greed index reflected a neutral sentiment, standing at 55 at press time. However, it appeared to be edging closer to fear.The decline was marked by an over 2% decline on the 14th of May, bringing its price back to the $61,000 zone. However, at the time of this writing, Bitcoin had recovered with an over 2% increase, trading above $62,000 once again.

Similarly, Ethereum experienced a decline of over 2% in the previous trading session, settling around $2,800. Nevertheless, it had rebounded by over 1% at the time of writing, trading at approximately $2,900.Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations.

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