• Crypto market sentiment hits rock bottom as legal battles and price decline instill fear.
• Market cap sees a decline as negative sentiment catches up with prices.

When news broke out about the legal battles involving Binance and Coinbase, the crypto market experienced a blend of responses. Ripple (XRP), among other crypto assets, displayed indications of separating itself from the market trend by showing resilience, while the overall market witnessed a downturn. Nevertheless, emerging reports indicated that the prevailing sentiment across the entire market has turned predominantly negative.

The crypto market suffers negative sentiments

New data from Santiment revealed that the current sentiment in the crypto market had reached its lowest point in quite some time. The combination of declining cryptocurrency prices and mounting concerns surrounding Binance and Coinbase has officially pushed trader sentiment to its most negative level since the market crash caused by COVID in March 2020. 

Furthermore, Cardano (ADA) garnered the highest negative sentiment when examining the weighted sentiment chart. Following closely behind were
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Author: Suzuki Shillsalot

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