Market sees more red, $25 billion gone

04 Jun, 2019
by David Robb
Price Action
Market sees more red, $25 billion gone

The last 24 hours have been a bloodbath for the crypto market. Nearly every major coin has seen close to double-digit losses, and BTC has fallen through what seemed like a new support.

Total market cap / BTC dominance:

The total crypto market cap currently stands at $244 billion, after over $25 billion was wiped out in the last 24 hours. BTC's dominance of the market is down to 55.8 percent.

Bitcoin (BTC)

BTCUSD chart by TradingView

Bitcoin's crash to the $7700 level yesterday was immediately followed by a bounce back towards $8k, and some consolidation in a small range, followed by another shift downwards. The new $7.7k support didn't hold for long, and it now appears to have flipped into a resistance level. BTC was trading as low as $7530 just a few hours ago, but is now up to around $7630, down over 10 percent for the 24h period.

Top 10

EOS has performed worst of the top cryptos in the last 24 hours. It fell in price by over 12 percent, retracing some of the impressive gains it made earlier in the week. XRP is down over 10 percent, and Bitcoin Cash (BCH) has plunged by over 11%.

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