Crypto Market Fell Hard: Here’s the Latest After the Crash

We witnessed sharp declines in cryptocurrencies today. Will it be continued? How is the current situation in the crypto market?

After the rise seen yesterday in the cryptocurrency markets, sharp drops were recorded today. After the total crypto market cap increased to 375 billion dollars yesterday, today it decreased by 5 percent to 350 billion dollars in the middle of the day. Also, at the press time, the total cap fell to $ 341.5 billion.

total crypto market

Many cryptocurrencies have been negatively affected by the recent outflow of funds in the crypto market. Here is the latest situation in cryptocurrencies:

Bitcoin Pulled Below $ 11,500

Bitcoin, which tested $ 12,000 once more yesterday, started the day with a decline. In the afternoon, the pressure of the bears increased further and BTCUSDT fell to $ 11,160. Currently recovering partially, the crypto king is priced below $ 11,500.

Ethereum Returned Yesterday’s Gain

Ethereum (ETH), which reached a high of $ 488 yesterday, lost 14 percent from its peak price today and dropped to $ 420. It is worth remembering that when we look at the daily outlook, the 416 dollar level corresponds to the Fib 0.618 value compared to the last bottom-peak price. So if Ether can stay above this level today, it will have experienced a normal correction.

XRP Wipes 5-day Return

XRP fell as low as $ 0.2622 with sell-off, the price it was 5 days ago. However, the altcoin, which recovered quickly afterwards, has now recovered half of this loss. If we look at the latest situation of XRP, it is very important that it closes the day above $ 0.27.

Chainlink Continues Horizontal Movement in Broadband.

The LINK token, which did not rise significantly yesterday, was far from the volatility the market was used to. Today, after seeing the bottom at $ 14 with a 12 percent decline, it climbed again to $ 15.

If LINKUSDT can stay above $ 15 today, it may move towards $ 17 again. The upward break of the $ 17 band may herald a new upward trend in the Chainlink market.

Crypto Market Gainers&Losers

On the other hand, there are altcoins that are not affected by the general market decline. According to the latest data we received from Binance, Phantom (FTM), Kusama (KSM), Tron (TRX), HOT and BAND tokens have made solid increases. By the way, it is worth remembering that Kusama (KSM) started to be listed on Binance today.

crypto gainersThe altcoins that have lost the most value in the Binance crypto exchange are as follows:
crypto losers

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Disclaimer: The information in the content is not an investment advice. Author and coinalways.com are not responsible for your profit or loss. Every investment involves risks and requires knowledge.

Coin Analistahttps://coinalways.com
Building his career on finance and banking, the veteran analyst decided to devote his experience to cryptocurrencies and forex. Co-founder @ Coin Always.

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