Bitcoin Suffers Minor Loss as Bearish Sentiment Grows

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Bitcoin Suffers Minor Loss as Bearish Sentiment Grows

Bitcoin experienced a slight decline of just under 1% within the last 24 hours while analysts, including Jim Cramer, expressed bearish predictions. The overall market capitalization also decreased by 0.3%. On the other hand, Ether managed to stabilize around $1,500 with a 0.5% gain after a weeklong decline. The drop in Ether began when the Ethereum Foundation sold $2.7 million worth of ETH for stablecoins. XRP, BNB Chain, and Solana's tokens experienced small decreases of 0.4% and 1.4% respectively, while Chainlink's LINK was the only large-cap token to see a gain of 2.2%. Research suggested that Chainlink could potentially benefit from the emerging trend of real-world asset tokenization and was considered a relatively safe investment. The CoinDesk Market Index, which includes numerous tokens, indicated an overall loss of 0.4% among investors' holdings. Traders speculated that the ongoing conflict between Hamas and Israel would lead to further declines in high-risk assets such as bitcoin and technology stocks, fueling concerns of global instability and a desire for safer investments.