**Bitcoin and Crypto Tokens Recover as Market Sentiments Turn Bearish**
In the aftermath of a day of cuts, Bitcoin and other crypto tokens managed to recover and inch slightly higher. However, these gains were capped as market sentiments turned further bearish and a lack of new catalysts put a brake on the rally in the markets.
**Bitcoin and Ethereum Rebound**
The largest crypto token, Bitcoin, rebounded from under-$26,000 levels but remained range-bound, trading slightly higher to firm at $26,000-levels. Similarly, Ethereum also moved on a similar line, paving its position above the $1,650-mark. Altcoins also saw price action on the higher side during the early trade.
**Crypto Market Trades Sideways**
The crypto market has traded sideways with minor gains in the past 24 hours. The crypto fear and greed index has shown no change since yesterday, remaining in the fear zone with a score of 39/100. This has led to one of the lowest trading volumes in a long time, according to Shubham Hudda, Senior Manager at CoinSwitch Markets Desk.
“This bear cycle of Bitcoin has already crossed more than 500 days, making it the longest bear market in the entire crypto lifecycle,” he added.
**Top Crypto Tokens Trading**
On Tuesday, most top crypto tokens were trading slightly higher. Polkadot gained more than 3 per cent, Shiba Inu posted similar gains and Toncoin, Cardano, and Polygon advanced about 2 per cent each. Meanwhile, Tron shed more than a per cent, and Solana was slightly down among the losers.
**Global Cryptocurrency Market Cap**
The global cryptocurrency market cap was trading marginally higher, rising to the $1.05 trillion-mark, with total trading volumes surging more than 38 percent to $24.26 billion.
**Tech View by WazirX Trade Desk**
WazirX Trade Desk reported that Galxe (GAL) is one of the foremost Web3 credential data networks globally, built upon an inclusive and cooperative framework. This framework empowers Web3 developers and projects to derive benefits from credential data, facilitating the creation of enhanced products and communities.
The GAL/USDT price gained over 8% yesterday with the RSI almost touching the 60 level after nearly four and a half months. The daily trend has been traversing within a descending channel pattern but has recently bounced back and is approaching the upper trendline with a surge in trading volume. The next resistance is expected at 1.375 USDT, with immediate support at 1.15 USDT.
**Conclusion**
Despite market sentiments turning bearish, the recovery and slight gain in Bitcoin and other crypto tokens are a positive sign for traders. The increased trading volumes and marginal rise in the global cryptocurrency market cap also indicate a potential shift in the market trend, while developments in specific tokens like Galxe highlight the resilience and growth potential of certain projects.
I have been featured in numerous publications, both online and offline, and am a regular speaker at industry events. I am also the founder of Crypto University, an online educational platform that helps people learn about cryptocurrencies and blockchain technology. In addition to my writing and teaching career, I am also an active investor in the cryptocurrency space. I have made investments in some of the leading projects in the space, and my portfolio has outperformed the market by a wide margin