Market drops $10 billion on Bitfinex news, BTC holds above $5,000

26 Apr, 2019
by David Borman
Price Action
Market drops $10 billion on Bitfinex news, BTC holds above $5,000

Just a matter of hours ago we saw the news break about the investigation being brought against Bitfinex and Tether. The market took the hit pretty bad, with most coins slipping well into the red. A few coins however bucked the trend, and some are showing signs of a rebound.

Coin Market Capitalization/Bitcoin Dominance

Currently, the market cap is sitting at $169,517,326,257, down about $10 billion since earlier today. Bitcoin dominance is still on a slow but steady rise, now at 54.8%.

Current price of Bitcoin: $5,248.71.

Chart Provided by Tradingview

Top 10

All top 10 coins are now in the red, but hardest hit was Cardano (ADA) slipping -6.38% to $0.068, as well as Ethereum (ETH) taking a -6.76% dive to $154.55. Even Tether (USDT) was down, not surprisingly, with a -1.89% dip to $0.987.

Biggest Winners/Losers

Moving into the top 100, things are still pretty bleak, but there are a few bright spots. Digitex Futures (DGTX) managed to stay up 6.95% to $0.089, and Chain (CRO) rose 3.71% to $0.073. After that the only coins with a little green are themselves stablecoins responding to the market. As for red, the hardest hit was Maximine Coin (MXM) with -18.33% losses to $0.047, and not far behind was Tezos (XTZ) with -16.92% downside to $1.04.

Many coins are already showing some signs of a rebound, but at this point it is a little early to tell where we go from here. Will we recover? Or will this push us back into crypto winter? Stick with Chepicap for all price action updates!

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