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Bitcoin is experiencing a bumpy start to the weekend. After yesterday's dump, the bulls fail again to push through at the 37,000 mark. At the same time, many Altcoins have seen price drops in the double-digits pinkwojaks all around so to speak.
BTC is trading at $ 36,756, which is a price drop of -9%. After the bears were able to push the “digital gold” to a 24-hour low of 35,333 the day before, it looks like a minor recovery at the start of the weekend, but the bulls lack the power for a sustained upward trend. A trading volume of USD 45 billion shows the uncertain attitude of our fellow investors. At the same time, a rising BTC dominance index suggests that traders will focus on Bitcoin. Currently, 688 billion of the total market capitalization (USD 1.65 trillion) is in BTC investments. This relation corresponds to a BTC dominance index of 41.6%.
ETH is slipping!
Ethereum plunges to the depths of hell after the failed breakthrough on the important 3,000 mark - 8.3% to the south, weeeeee.
Bleeding Altcoins
Many Altcoins start the upcoming weekend with price losses in the double-digits. The top 10, projects like BINANCE Coin BNB (-11.1%), Cardano (-9.9%) and CRipple (-10.1%) are particularly hard hit. THETA Network can free itself from the clutches with an upward trend of + 1% and take a counter-trend, atta boy!
What's next?
The crypto market reacts with violent fluctuations to the impending doom, ah I mean expiration of futures contracts and options transactions. After Tesla's BTC payment stop and the seemingly non-stop “China FUD”, BTC is looking at a monthly loss of -33% and eXperts argue whether the latest downward trend marks the end of this year's bull run or whether the cryptospace has experienced a violent “shakeout”. We are probably in for a lot of tension in the next couple of days. As per usual thanks for reading and NFA DYOR! Godspeed everyone.
