Following a largely bullish week for the majority of crypto assets, the bears have come out to play at the weekend. A slide back into four figures for Bitcoin has dragged most of the altcoins back down with it as $10 billion leaves cryptocurrency markets.
Crypto Market Cap Slides Again
A steady decline has resulted in total crypto market capitalization falling back to just above $260 billion. Daily volume has also dumped from over $70 billion on Friday to around $50 billion today according to Coinmarketcap.com.
The move has been initiated by Bitcoin which has failed to hold ground above $10k yet again. The slide started late Friday after a brief top of $10,300. BTC eventually bottomed out at around $9,850 according to Tradingview charts and recovered slightly to trade at $9,940 where it has currently settled.
The descending triangle pattern is clearly defined and analysts have predicted moves in either direction however the low side looks like the better bet when the breakout finally occurs. Read More