Bitcoin Sinks Below $19K With Crypto Fearing Another Red Week

Republished By Plato

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Bitcoin sinks below $19K with crypto markets fearing another week in the red, while TFUEL emerged as the biggest daily gainer so let’s read more today In our Bitcoin news.

Bitcoin sinks below $19K as the weekend continues to be calm compared to the previous days as the asset still sits around the $19K level and other altcoins are in a similar position with almost no movements from the larger cap ones. Last week was not well for the main cryptocurrency which spiked to $22K at one point but then as it happened a few times in the past, it failed to continue its upward movement and reversed its trajectory quite fast.

BTC found itself dropping below $21,000 in one day and as June came to an end, it marked one of bitcoin’s worst quarters in its history as the coin plummeted to a 10-day low of $18,600. Then came a surprising pump higher and BTC jumped to $21,000 but soon returned below this level in a few minutes. Since then, the cryptocurrency remains still at $19,000 where it is in a good position so the market cap stalled at $365 billion but the dominance over altcoins is down by 42%. the altcoins went down during the week as well but most calmed since the start of the weekend.

ETH came close to breaking $1000 but then managed to retain this level. ETH trades at $1050 while BNB is close to $220. Cardano and Solana are in the green slightly while Ripple, DOGE, sHIB, and LEO are in the red. TRON lost hte most from the larger cap coins with a 3% decline. Theta Fuel is among the biggest gainers with an 11% daily increase.

crypto market — Cryptocurrency Market Overview. Source Quantify Crypto

As earlier reported, The incoming volatility has been eyed by commentators as the weekly close drew near. Analyst Matthew Hyland noted that the Bollinger Bands indicator was showing signs that the price conditions will become more erratic. Ont eh daily timeframes, the BTC/USD pair traded near the bottom Bollinger band and threatened a new drop below if the volatility of a similar force occurred in May. Fresh data in the meantime shows that a little pain is left for the average holder as they are going through the worst monthly losses since 2011.

Time Stamp: July 3, 2022