Today’s market session has kicked off characterized by bearish signals as the global market cap dropped by 3.6% within 24 hours to bring the total cap to $1.09T as of press time. Bitcoin (BTC), is having a bad session losing 3.9% in valuation within 24 hours as the crypto king dipped further below to go the $25K level.
Trading at $25.7K, BTC had seen a weekly drop of 7% with a market cap of $499,876,315,170 and a trading volume of $20,379,370,693. Bitcoin’s volatility levels are also low as the Bollinger bands now move closer to each other.
The MACD has however shifted on the negative side, as bears now take full grasp of the markets ahead of the Binance handle with the SEC that might have sparked FUD and investor panic. The RSI is also moving low below its average line as the asset now enters the oversold region. Bitcoin is now the top most trending coin on CoinMarketCap ahead of the ongoing saga that has seen it lose valuation. #FUD
BTC 1-day chart | Source: TradingView Altcoin analysis
Ethereum (ETH) bears are also on the radar in today’s session as the asset now sits on a 2.8% loss within 24 hours of trading as the asset now approaches a shift below $1.8K. ETH, trading at $1816, has a market cap of $218,449,749,690 as the weekly drop sat at 4.3%.
BNB, the second most trending coin today, has seen the most dramatic drop in line with the recent development on Binance, losing 7.7% within a day of trading. The asset’s weekly drop now stands at 10.9%. BNB has a current market cap of $43,304,086,759.
BNB 1-day chart | Source: CMC
Other altcoins have also tumbled in today’s session with Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), Solana (SOL), and Polygon (MATIC) recording massive losses of 4%,6.1%, 7%, 7%, and 5% respectively ahead of today’s bear signal. Tron (TRX) and Litecoin (LTC) have also dropped massively in valuation with both dropping 2.9% and 5.8% within the same period.
KAVA has however defied the dip today gaining 11% within a day as others tumble. Kava, now trading at $1.09 as of press time, with a market cap of $604,462,904.
Kava 1-day chart | Source: CMC
Terra Classic (LUNC) has also had a terrible drop, losing 14% in valuation as of press time to take LUNC’s price to $0.00009156.
