The past two weeks took a different turn for almost all crypto assets, especially Bitcoin. Though the crypto market prices saw some positive moves to the north in July, most tokens could not sustain their growth afterward. In addition, there have been other losses in the crypto market recently, which has thrown the entire market off balance.
A record of over $50 billion left the broader market as the cumulative market cap fell below the $1 trillion level. It seemed like the bears were not yet through with the downward pull. But trading over the last two days brought a little hope to the market.
Several cryptocurrencies were seen reclaiming some of their lost values. Bitcoin surged above the $19,500 mark, dipping as it gathered over $1,000 again.
Other cryptocurrencies followed the trend as well. The actual positive progress in the crypto market had the market cap hitting and surpassing its coveted $1 trillion mark again.
Another Downward Trend For Bitcoin
Just when it seems like the bulls are rising strongly, a negative twist has once again erupted in the market. The report on the market prices indicates that volatility has been increasing over the past 24 hours.
BTC price appears to be hovering below the $20,000 region as the token experience a slight shed-off over the past 24 hours. But the cumulative cryptocurrency market capitalization is still stalling over the $1 trillion mark.
Bitcoin hovers below 20k on the chart l Source: BTCUSDT on TradingView.com
BTC is battling to claim the $20,000 mark as sellers and buyers are dragging supremacy. So far, Bitcoin’s strong forces are holding down the price at the level despite the increasing volatility in the market.
Altcoins Are Not Left Out
The altcoins are not left out in the 24 hours of downtrend prices. For example, Ethereum plummeted by 0.3% and is currently trading above the $1,500 region during the press. Other significant altcoins are also in the red due to the negative price swing of the crypto market.
SOL dropped but then gained; DOT lost by 0.69%, DOGE is also trading sideways, SHIB lost, but it has recovered, , AVAX dipped by 0.37%. There is also a reverse of the market sentiment as the level has moved back to ‘extreme fear.
The sudden rise in price volatility has total spiked liquidations over the past 24 hours. The value is currently about $250 million. A record of the most considerable single liquidation involved a BTC-USDT swap valued at $2 million and occurred on the OKEx crypto exchange.
Featured image from Pixabay, chart from TradingView.com
The past two weeks took a different turn for almost all crypto assets, especially Bitcoin. Though the crypto market prices saw some positive moves to the north in July, most tokens could not sustain their growth afterward. In addition, there have been other losses in the crypto market recently, which has thrown the entire market off balance.
A record of over $50 billion left the broader market as the cumulative market cap fell below the $1 trillion level. It seemed like the bears were not yet through with the downward pull. But trading over the last two days brought a little hope to the market.
Related Reading: Dogecoin Slowly Retests $0.06 As DOGE Is Seen Moving Higher Over The Next Days
Several cryptocurrencies were seen reclaiming some of their lost values. Bitcoin surged above the $19,500 mark, dipping as it gathered over $1,000 again.
Other cryptocurrencies followed the trend as well. The actual positive progress in the crypto market had the market cap hitting and surpassing its coveted $1 trillion mark again.
Just when it seems like the bulls are rising strongly, a negative twist has once again erupted in the market. The report on the market prices indicates that volatility has been increasing over the past 24 hours.
BTC price appears to be hovering below the $20,000 region as the token experience a slight shed-off over the past 24 hours. But the cumulative cryptocurrency market capitalization is still stalling over the $1 trillion mark.
Bitcoin hovers below 20k on the chart l Source: BTCUSDT on TradingView.com
BTC is battling to claim the $20,000 mark as sellers and buyers are dragging supremacy. So far, Bitcoin’s strong forces are holding down the price at the level despite the increasing volatility in the market.
The altcoins are not left out in the 24 hours of downtrend prices. For example, Ethereum plummeted by 0.3% and is currently trading above the $1,500 region during the press. Other significant altcoins are also in the red due to the negative price swing of the crypto market.
SOL dropped but then gained; DOT lost by 0.69%, DOGE is also trading sideways, SHIB lost, but it has recovered, , AVAX dipped by 0.37%. There is also a reverse of the market sentiment as the level has moved back to ‘extreme fear.
Related Reading: MATIC Climbs 6% After Robinhood Support For Polygon POS Chain
The sudden rise in price volatility has total spiked liquidations over the past 24 hours. The value is currently about $250 million. A record of the most considerable single liquidation involved a BTC-USDT swap valued at $2 million and occurred on the OKEx crypto exchange.
Featured image from Pixabay, chart from TradingView.com
NewsBTCRead More
Early in our thinking about the interaction between bitcoin and energy it became obvious to…
One bitcoin is worth $100,000 — a milestone that has <a href="https://www.coindesk.com/business/2024/12/05/bitcoin-at-100-k-industry-reaction" target="_blank">crypto OGs in…
By Omkar Godbole (All times ET unless indicated otherwise) You know how it feels when…
Bitcoin experienced extreme volatility yesterday after reaching a new all-time high of $104,088 on Wednesday.…
As Bitcoin finally soars above the long-awaited $100,000 milestone, Ethereum (ETH) attempts to break out…
Net inflows into U.S. spot ether (<a href="https://www.coindesk.com/price/ethereum/ " target="_blank">ETH</a>) exchange-traded funds (ETFs) have picked…