The cryptocurrency market is generally turning red today. Most prices fall, bringing total market capitalization back to $1.95 trillion last night. Prices are slowly rising again this morning and the market cap is climbing back towards $2 trillion, but this may not be the end of the correction. Nevertheless, the whales have already bought the dip:
Bitcoin (BTC)
Bitcoin (BTC) initially appeared to hold around USD 46,000 yesterday afternoon and then briefly recovered to USD 47,000. However, the BTC price was hard rejected there and plummeted all the way back to $44,500. It looks like bitcoin found support here last night and the price has been slowly climbing again since then.
At the time of writing, bitcoin is pushing against USD 45,500, but it appears that the price is running into too much resistance. Visit folm.io for more information. The recovery may continue and we’ll get back to $46,000 soon, but the chances of a further downward correction appear to be at least as high. Bitcoin may then fall back to $44,000, $42,000 or even $40,000 again. Still, bitcoin is holding up better than most altcoins today.
https://youtu.be/IMDuy07-4Kg
altcoins
Ethereum (ETH) is still following bitcoin, although the ether price is falling relatively faster today. Yesterday afternoon, ether briefly peaked at $3,250, but was then rejected there and dropped below $3,000 again last night. It is slowly climbing towards USD 3,100 but is again encountering resistance at the time of writing. USD 3,000 was expected to hold, but a correction down to USD 2,750 or even USD 2,500 is not ruled out.
Cardano (ADA) also fell sharply yesterday. The ADA price fell 9.5% from $2.10 to $1.90 last night. There, ADA bounced back up again, peaking at $2.05 this morning, but is correcting at the time of writing and is back below $2.00. https://moveco.io/ has enough information. Binance coin (BNB) and ripple (XRP) are down a little harder and are down 5% and 6% this morning.
Dogecoin is even down almost 10% and is back below $0.3. Polkadot (DOT) is down more than 10% to USD 23.6. Solana (SOL), which reached an all-time high (ATH) after a massive rally yesterday, is also down 8.5% today to reach $67.8.
Outside the top 10, Audius (AUDIO) is correcting a lot. The price is no less than 30% in the minus today, but that is not really a surprise. AUDIO rose by more than 100% yesterday. Yet there is a handful of crypto that is still well in the plus today. Arweave (AR), xdc (XDC) and avalanche (AVAX) are all up 22% this morning.