Total Cryptocurrency Market Cap Drop To $1.65M Reflects Absence Of Bulls By Cointelegraph
Total Cryptocurrency Market Cap Drop to $1.65M Reflects Absence of Bulls
The total cryptocurrency market capitalization has been trading inside a descending channel for 24 days and the $1.65 trillion support resurfaced on May 6. The drop to this level was followed by (), which reached $35,550, its lowest price in 70 days.
Total cryptocurrency market capitalization in billions of dollars. Source: TradingViewIn terms of performance, the total market capitalization of all cryptocurrencies fell 6% in the last seven days, but this modest correction in the general market does not account for some mid-cap altcoins, which managed to lose 19% or more in the same period.
Altcoins bear the brunt, unsurprisingly In the last seven days, the price of Bitcoin fell 6% and Ether (ETH) fell 3.5%. Meanwhile, altcoins experienced what can only be described as a massacre. Below are the assets that rose the most and those that fell the most among the top 80 cryptocurrencies by market capitalization.
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