Crypto On Feb 24: Market Slides Back In Red After A Day's Bullish Run

The cryptocurrency market turned bearish once again Thursday after a brief surge the previous day, reflecting the dips in the traditional market. The global market cap was down 8.75% at $1.58 trillion as of 3.10 a.m. ET.

Bitcoin was down 6.43% at $35,679. Ethereum, too, plunged 10.69% to $2400, CoinMarketData showed.

Barring a slight uptick in Tether and USD Coin, all of the top 10 tokens traded lower. Meme cryptos Shiba Inu and Dogecoin too dipped.

"Mirroring traditional markets, the crypto market capitalisation dipped into the reds as geopolitical uncertainties grew, drawing an increasingly interconnected relationship between digital assets and the financial markets," CoinDCX research team told International Business Times.

"With no end in sight for the ongoing geopolitical conflict, the traditional market and the digital asset sector may face extended uncertainties in the road ahead," the Indian exchange added.

According to WazirX trade desk's daily analysis, Voxies (VOXEL), a free-to-play tactical RPG game on the blockchain, gained over 20% in the last 24 hour period to be one of the top performers.

The crypto market is extremely volatile and experts recommend investors not make decisions based on the sudden shift in prices.