Global #Profit-taking

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has recently experienced a significant price correction after failing to break through the $3,520 resistance level.

Bitcoin, the leading cryptocurrency, has experienced a noticeable decline in recent times, raising concerns among investors and enthusiasts. This downturn has led to discussions about whether the market is entering a bearish phase.

The open interest for Render (RNDR) futures contracts is approaching its lowest point for June, indicating a potential decline in investor activity for the cloud rendering token.

The meme-inspired cryptocurrency, PEPE, has experienced a surge in demand over the past week, propelling its value by 5% to $0.000012. This surge is fueled by renewed interest in the meme coin market and strong buying pressure, as indicated by technical indicators like the Chaikin Money Flow and Elder-Ray Index.

The cryptocurrency market is a complex beast, often driven by sentiment as much as fundamental analysis. One key metric traders and analysts watch closely is the net taker volume, a figure that provides insight into the balance between aggressive buying (takers) and passive selling (makers) on exchanges.

Bitcoin, the world's leading cryptocurrency, has fallen below the crucial $68,000 mark for the first time since early June, raising concerns among investors. This price drop comes amid thin bid liquidity, meaning there are fewer buyers willing to snap up Bitcoin at current prices.