Bitcoin Tumbles Below $36K, Altcoins In Red Too
The crypto market has turned red even after the latest FOMC meeting. Bitcoin inches towards the $35,511 mark, and altcoins are getting a beating too. Bitcoin responded to the Federal Reserve’s 50 basis-point interest rate hike by dropping more than 10% in one day, its most significant decline in two months. Related Reading | Cardano Prepares For Major Update, Will It Be Enough To Push Bears Back? Most of the crypto market was up early today, with bitcoin hitting $40,000 after yesterday’s Federal Reserve meeting. Other cryptocurrencies that performed well in the early hours....
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Altcoins have risen to a three-year dominance high after tagging a record combined capitalization of nearly $1.5 trillion last week. While Bitcoin tumbles in response to Elon Musk’s Twitter account yet again, altcoin dominance has surged to its highest level in roughly three years.As of this writing, Bitcoin represents 40.3% of the combined crypto asset capitalization — the lowest it has been since June 2018, according to CoinMarketCap.Bitcoin hit a market dominance low of 33% in January 2018 when it was cooling from its previous peak while the altcoins were just hitting theirs. It is....
OKB is trading just above $4, down from nearly $6 before the news.
Ether price dropped below $600 as altcoins are feeling the pressure from the SEC vs. Ripple lawsuit. XRP has been showing massive weakness as the cryptocurrency is being sued by the SEC. Its price tumbled significantly from $0.65 to $0.21 in four days, a crash of 67%.Meanwhile, other altcoins also corrected significantly in the past 24 hours as investors probably fear that XRP may not be the only coin on the SEC's radar. Ether (ETH) dropped by 14% on Dec. 24 and then bounced at $550. While Chainlink corrected 38% toward a recent low of $8. Sushiswap (SUSHI) saw the largest correction and....
ETH’s price loses its $1,500 support as the price trades to a region of $1,250 before bouncing off this region. ETH’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors. ETH’s price remains weak across all timeframes as the price trades above the 50 and 200 Exponential Moving Averages (EMA). Previous weeks saw the price of Ethereum (ETH) and most altcoins trend higher as many produced gains of over 200%, including the price of Ethereum (ETH) rallying from a region of $1,300 to a high of $1,600....
It's once again becoming obvious that there's a strong correlation between bitcoin and litecoin price. Some days ago it looked like the bearish mood of the market disappeared for a while; but as expected, the recent decrease in bitcoin's price also had an effect on the litecoin price. Blame it on bitcoin(?). LTC/USD experienced ~7% losses today getting further away from $2 per coin. It seems like the 'bullishness' didn't really catch on after we noticed some positive movement last Sunday. It's not really that surprising to see litecoin price go down on a day like this, where almost all....