The total value of the cryptocurrency market and Bitcoin (BTC), Mt. It dropped after Gox's $5 billion move. This has also affected altcoins, causing some cryptocurrencies such as Lido DAO (LDO) to witness a sharp decline. After this downward momentum in the market, expectations became a matter of curiosity.

Total Value in Cryptocurrencies

Mt. Following the Gox news, bearish sentiment increased among investors and the total crypto market cap formed a bearish candlestick on the charts. The total value of all cryptocurrencies decreased by $45 billion. However, total market capitalization (TOTAL) still remains at $2.48 trillion, around the key support of $2.50 trillion. If the depreciation continues, the total value of the crypto market could drop further, pushing TOTAL to $2.40 trillion.

Mt. Gox's $5 billion Bitcoin move caused the market to move, it may be inevitable for the Bitcoin price to enter a downward trend. Bitcoin's price fell just over 2%, which led to BTC losing its support at $68,500. This level is a critical support point. It is very important for recovery to regain this level as support. Although no further decline is expected, BTC's price could drop to $66,000. However, a pullback of $68,500 as support could reignite optimism.

Effect of the Decline on Altcoins

While the price of Lido DAO (LDO) increased significantly in the second half of May, it has varied in the last 24 hours. While LDO was close to breaking the critical resistance at $2.6, market headwinds shifted from bullish to bearish and hence Lido DAO fell to $2.4. Investors and the market need to put pressure; otherwise LDO may drop to $2.2. Mt. Gox's $5 billion BTC move caused a decline in the crypto market and the total market value decreased by $45 billion. BTC and altcoins retreated and Lido DAO dropped to $2.4.

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