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Cosmos' ATOM token slumped by 4% in the past 24 hours as Thursday's short-lived crypto rally came to a halt on Friday.
Market volatility has been lower on Friday, in part due to the nation July 4th holiday in the U.S.
Bitcoin attempted to form a new record high on Thursday but fell just short, sliding from $111,000 to $108,000, with the majority of altcoins like ATOM following its lead.
Technical analysis
CD20 Index Plunges 2% as Crypto Market Sentiment Deteriorates
The CD20 index has experienced a notable bearish trend over the last 24 hours from 3 July 15:00 to 4 July 14:00, declining from $1,803.70 to $1,765.27, representing a substantial drop of $38.43 or 2.13%.
The overall range of $38.84 (2.15%) highlights persistent selling pressure, with particularly accelerated downward momentum in the final hours as the index reached its lowest point of $1,764.86 at 14:00, suggesting deteriorating market sentiment despite brief consolidation attempts around the $1,780 level.
This article has been published in fxempire.com via Yahoo News.
