This article examines the increased selling pressure in the cryptocurrency market as top tokens, including Bitcoin and Ethereum, experience significant declines.
Points
- The cryptocurrency market has dropped from $2.40 trillion to $2.36 trillion.
- Bitcoin recorded a loss of 1.17% in the past 24 hours.
- Ethereum’s trading volume declined by 25.8%.
- Increased selling pressure is affecting the market.
- The market is hovering close to important support levels.
Market Overview
The cryptocurrency market has experienced increased selling pressure, dropping from $2.40 trillion to $2.36 trillion within the past 24 hours, a correction of 1%. This decline reflects broader market trends affecting top tokens like Bitcoin and Ethereum.
Bitcoin’s Decline
Bitcoin recorded a loss of 1.17% in the past day, with a trading volume of $28.01 billion. Its dominance has dropped from 55.5% to 54.8% this week, indicating a shift in market dynamics and increased selling pressure.
Ethereum’s Struggles
Ethereum has also faced challenges, losing approximately 1.5% from its portfolio and experiencing a 25.8% decline in daily trading volume. Currently, Ethereum is hovering close to its important support level of $2.5K.
解説
- The cryptocurrency market is experiencing increased selling pressure, leading to a decline in market cap.
- Bitcoin and Ethereum have recorded significant losses, reflecting broader market trends.
- Increased selling pressure is impacting market dynamics and investor sentiment.
- The market is hovering close to important support levels, indicating potential volatility ahead.