Capitalul pieței criptografice scade sub 1.5 trilioane de dolari într-un weekend roșu

The cryptocurrency market cap fell below $1.5 trillion on a red weekend. More than $100 billion was wiped off the marker as it retraced by 5%. Bitcoin and other altcoins registered a 5%-10% decline as major market indicators flashed bearish signals.

Bitcoin price is currently trading at $35,668 falling from a daily high of $37,531. The top cryptocurrency’s price is breaking down from its current triangle pattern on the long-term chart. Although there is not significant sell-side volume, crypto analyst MMCrypto said one should remain cautious at this point.

#BITCOIN BREAKING DOWN! NO VOLUME YET, BUT I REMAIN CAUTIOUS! pic.twitter.com/WhUt3FzjLG

- MMCrypto (@MMCrypto) 12 Iunie, 2021

Bitcoin price is also nearing a possible death cross and needs to move at a rate of $1,500 per day to avoid it. Rekt Capital, a popular crypto analyst believes the last week’s rally has pushed the impending death cross by a week and the momentum needs to continue to avoid it.

#BTC has rallied +20% recently

In doing so, BTC has pushed back the potential Death Cross by a full week

Creșterile de preț de aici ar amâna și mai mult

publicitate

Si daca $ BTC is able to rally above $55K-$60K soon then BTC might be able to avoid the cross altogether#Crypto #Bitcoin pic.twitter.com/J21oorvuOE

- Rekt Capital (@rektcapital) 10 Iunie, 2021

Ethereum, the second-largest cryptocurrency by market cap is currently trading at $2,372, down by 3.73% over the last 24-hours. The ETH/BTC pair saw a minor dip today currently trading at 0.066 falling from 0.80 a couple of days ago.

Altcoins Take a Harder Dive

Apart from Ethereum, the majority of altcoins took a harder dive falling over 5%. Among the top-10 cryptocurrencies, Uniswap registered the highest decline of nearly 8%, followed by Cardano and Binance coin with a 6.69% decline.

de urs sentiment has prevailed in the crypto market over the past month ever since the May second week market sell-off. The Crypto market lost nearly a trillion dollars of its market cap during last month’s sell-off. On-chain metrics suggest the trading volume has come down significantly for most cryptocurrencies including the highly popular NFT market.

The weekend sell-0ffs this time around is also being attributed to the European Football betting season and many believe people are moving away from their money from the crypto market.

Despre autor

Absolvent de inginerie, Prashant se concentrează pe piețele din Marea Britanie și India. În calitate de cripto-jurnalist, interesele sale stau în adoptarea tehnologiei blockchain în economiile emergente.