BitMart Market Report for May 16: The market overall continues to exhibit a high-level oscillation pattern.
Powered by ChatGPTOdaily Planet Daily news: According to BitMart's market report on May 16, the total market capitalization of cryptocurrencies reached 3.33 trillion USD, an increase of 0.73% compared to the previous day; $BTC maintained a high-level oscillation trend, rising sharply during the day before retreating; $ETH's trend synchronized with $BTC; regarding market sentiment, the Fear and Greed Index stood at 69, remaining in the "Greed" zone; the overall long-short ratio was 1.02, with bullish sentiment dominating. As Ethereum experienced a short-term surge followed by a pullback, the altcoin market faced significant corrections; the market is currently in a high-level consolidation phase with clear signs of capital rotation. Investors are advised to closely monitor $BTC's trend direction and changes in the Fear and Greed Index, remaining vigilant against short-term correction risks.