Crypto markets dump $10 billion as bears regain control

Crypto markets dump US$10 billion as bears regain control

Digital asset markets have headed south again as predicted, with US$10 billion [AU$15.8 billion] exiting the space over the past 24 hours.

Market sentiment has been bearish all week, and the slide below $190 billion in total market capitalization has been largely expected.

Bitcoin has failed to revisit resistance above $7,000 and has fallen back to the $6,600 support zone, which has dragged the entire market down with it.

Analysts are now eyeing levels as the halving approaches, and most are of the opinion that BTC needs to hold above $6,000 for any longer-term trend hopes.

Some are targeting the large wall of support at $6,400 as a buy-in zone, which would cause a bounce here.

As usual, Bitcoin has dragged the rest of the market down with it, and Ethereum has lost over 4% on the day as it falls back towards $150.

XRP is about to plunge below $0.18, while BCH and BSV have both dumped 5%. Litecoin is in pain below $40, and BNB has retraced about 7%, falling back below $15.

There is no green at all on crypto markets today as the bleed out continues and further losses are expected.

Micky is a news site and does not provide trading, investing, or other financial advice. By using this website, you affirm that you have read and agree to abide by our Terms and Conditions.
Micky readers - you can get a 10% discount on trading fees on FTX and Binance when you sign up using the links above.