An overview of the cryptocurrency market - Tuesday, May 11

An overview of the cryptocurrency market -Tuesday, May 11

Bitcoin Falls $ 6,000

Despite the strong movements and the upward trend of the last few days, BTC has not been able to overcome the resistance of $ 60,000. As we reported yesterday, the market's top cryptocurrency hit a three-week high of $ 59,600.

As the community waited for the $ 60,000 psychological resistance to pass, the bears stepped in and took control. In the hours that followed, Bitcoin began to fall rapidly, dropping more than $ 6,000 to its lowest daily level, just below $ 53,600.

Despite a relative return and multi-thousand dollar recovery, BTC continues to show a decline of about 6% on a 24-hour scale. In addition, the currency still dominates the cryptocurrency market below 43%.

Sea of ​​Blood in the Altcoins Market

Over the past few weeks, the replacement Quinns have performed more dramatically than their leader. However, most of them have fallen sharply since yesterday.

Atrium, which has seen explosive growth at the top of all altcoins, set a record high of $ 4,200 yesterday. However, it immediately plummeted to $ 400 and reached its lowest daily price level at $ 3,800. Ether has improved slightly since then and is now trading below $ 4,000.

Binance Coin (5.5%), Ripple (10%), Cardano (7.5%), Polkadat (12%), Bitcoin Cash (12%), Light Coin (12%) and China Link (12 -%) are all red today.

Dodge Quinn has fallen sharply since Ilan Mask appeared on SNL, falling another $ 11% to below $ 0.5.

Bitcoin Diamond (-20%), Qtum (-18%), ICON (-17%), Ethereum Classic (-17%), OMG Network (-15%), Phantom (-15%), DigiByte (-15% ), Ontology (-15%), Avalanche (-15%) and EOS (-15%) saw more fluctuations.

Typically, after a massive market downturn, the crypto market value also fell by about $ 200 billion yesterday, now reaching over $ 2.4 trillion.

An overview of the cryptocurrency market today, May 9

An overview of the cryptocurrency market today, May 9

Bitcoin is approaching $ 60,000

As reported two days ago, the bears were in complete control of the market's first cryptocurrency, lowering the price to around $ 55,000. However, Bitcoin managed to reverse its trend and gradually increase its value.

BTC reached above $ 58,000 yesterday and continued to move after a slight correction. In the last 24 hours, Bitcoin has reached the level of $ 59,600. This is the highest price of this leading cryptocurrency since the market collapsed in mid-April.

However, BTC failed to continue its uptrend until it crossed the significant $ 60,000 resistance, thus falling below the $ 59,000 level. It has since risen 2% to its current level of $ 58027.

The benchmark for comparing the BTC market value with all altcoins also rose to 45% after 44% yesterday.

Set new records in Ether and Cardano

The Altcoin market has fluctuated sharply in recent weeks. Atrium, on top of all of them, has experienced intense price pumps. The market's second cryptocurrency broke the $ 3,000 level less than a week ago, and has now reached its all-time high of $ 3,980, setting a record.

Cardano, after setting his last record earlier this week, managed to touch the level of $ 1.73 and draw his highest price level in history. Binance Quinn has also increased to $ 650 in 24-hour timeframes.

Dogecoin, on the other hand, fell 25% to $ 0.55 after the long-awaited Elon Musk show aired.

The most important market winner today is Shiba coin. Inspired by Dodge Quinn, the token was able to enter the top 100 currencies in the market after 850% growth in one week. The currency has risen 160 percent in the last 24 hours alone.

Telcoin (32%), Polygon (28%), Bitcoin Diamond (16%), Venus (13%) and Qtum (10%) are next.

The total market value of cryptocurrencies rose to a record $ 2.460 trillion after rising $ 60 billion in one day.

An overview of the cryptocurrency market today Saturday, May 1

An overview of the cryptocurrency market today Saturday, May 1

$ 6,000 price increase for Bitcoin in two days

While the Altcoin market has seen a significant price increase recently, Bitcoin seems to have stalled. The market's first cryptocurrency, which had slumped below $ 50,000 in April, failed to rise above $ 55,000.

The bears took advantage of this BTC inability and pulled it down again, raising the price to around $ 52,000 on April 29. Since then, the bitcoin movement has reversed.

As a result of these positive developments, the asset traded at around $ 54,000 before finally starting a significant uptrend. Within hours, the cryptocurrency rose about $ 4,500, reaching its highest level since the April 18 crash.

The value of the Bitcoin market also stabilized above $ 1 trillion on this uptrend. In addition, BTC regained almost 1% of its lost dominance in the market and now stands at 49%.

New record of Ether and Bainance Quinn

Most altcoins have been on the rise recently, but perhaps none have been as significant as Ethereum, the market's second-largest currency. Atrium set several consecutive records last week. In the last 24 hours, ETH reached its latest record of just over $ 2,870 (on Bitstamp). The market's third-largest cryptocurrency, Binance Quinn, also saw a new slump. The BNB was hovering around $ 600 yesterday, but jumped more than $ 40, reaching a new record at around $ 645 (in Binance).

Ripple (4%), Polkadot (1.5%) and Bitcoin Cash (12%) are also among the top 10 green currencies today. Nevertheless, the Dodge Quinn had the most dramatic performance with a 15% increase. As a result of these developments, DOGE is trading at around $ 0.35.

DigiByte (29%), Avalanche (22%), SwissBorg (17%), OKB (17%), Ren (15%), Compound (15%), Ethereum Classic (13%), Bitcoin SV (12%), Phantom (12%) and Reserve Rights (10%) are among the currencies that have grown in double digits today.

Finally, the market capitalization has increased by $ 170 billion in two days and is well above $ 2 trillion.

An overview of the cryptocurrency market Saturday, April 3

An overview of the cryptocurrency market Saturday, April 3

Bitcoin dominance falls to its lowest level in 7 months

While most alternative coins have made significant gains over the past few days, bitcoins have stopped below the 60,000 level. The first cryptocurrency in the market has been struggling with this particular price line for some time, but all its repeated attempts to overcome this resistance have failed every time and pushed it down.

In the last 24 hours, BTC was only a few hundred dollars away from touching $ 60,000 again, but subsequent corrections reduced the asset to its lowest daily level of $ 58,500.

Despite recovering several hundred dollars worth of bitcoin and trading above $ 59,000 at the time of this writing, bitcoin dominance has suffered a major blow. In fact, the benchmark for comparing the BTC market value with other encrypted assets has dropped to 58.4%. This is the lowest level of bitcoin dominance in the crypto market since mid-September 2020. It should be noted that this criterion in early January 2021 was much higher than 70%.

Polkadat ranks fourth in the market

The last few days have been quite bullish for the Altcoins market. Atrium has led the way with the formation of several consecutive daily green candles, and as a result of these developments, it was able to conquer the territory of $ 2,000 again yesterday.

Of course, the market's second cryptocurrency did not stop here and continued to advance until a new downturn of around $ 2150 (on Bitstamp). Despite some modifications since then, ETH is still trading above $ 2,100.

Bainance Quinn fell slightly from yesterday's record above $ 350 and traded around $ 340. Cardano and Theta have had minor gains, while LightQueen (6%), Ripple (12%) and Uni Swap (11%) are all green.

Nevertheless, Polkadat had the most significant performance among the top 10 currencies in the market, with a significant increase of 22% on a 24-hour scale. As a result, DOT became the fourth cryptocurrency in terms of market value, setting a new record at $ 46.5.

Double-digit growth in tokens such as Holo (57%), Livepeer (42%), BitTorrent (19%), EOS (14%), Solana (13%) and Cosmos (12%) is also significant.

Finally, the total market value of cryptocurrencies remains above $ 1.9 trillion, but it is still about $ 30 billion before it touches $ 2 trillion for the first time.

An overview of the cryptocurrency market Monday, February 22

An overview of the cryptocurrency market  Monday, February 22

After the last bitcoin price record of about $ 58,000, the currency returned to the $ 55,000 floor with more than $ 3,000 correction. Most replacement coins also lost some value, and Atrium fell below $ 1,900.

$ 3000 Bitcoin drop

The first cryptocurrency on the market had a very positive week, with the stock rising more than $ 12,000 in the past few days, from a record low of $ 46,000 to several consecutive records. The last record was set yesterday after BTC reached $ 58,400, which is currently the highest price level in the history of this currency.

However, the bears took action at this stage and did not allow the currency to rise further. Thus, within a few hours, Bitcoin lost more than $ 3,000 in value and reached $ 55,000.

However, BTC has recovered some of that lost value and is currently above the $ 56,000 mark.

Technical indicators show that if the price continues to improve, Bitcoin could gain more support at the levels of $ 55,000, $ 52,365 and $ 50,800. Instead, BTC must cross the $ 57,500 and $ 58,350 resistance lines before entering a new unknown territory.

Atrium below $ 1900 and Ripple jump to $ 0.60

Most large altcoins have started a correction process again in the last 24 hours. Atrium, which hit an all-time high of $ 2050 on Saturday, has lost about $ 200 since then and is currently trading below $ 1,900.

Polkadat has also seen a 2% decline in the last 24 hours. Cardano (5%), LightQueen (1%) and China Link (4%) are all red today.

Binance Quinn reached $ 280 after a 6% increase and partially offset yesterday's loss. However, Ripple rose 20 percent to above $ 0.60 and showed the best performance.
As usual, lower market value altcoins have seen more volatility. The Pundi X went green today with a 53% increase, followed by IOST (48%), Fantom (40%), Holo (35%), OKB (30%), BitTorrent (22%) and Terra (18%). ) Placed.

In contrast, Ontology has lost most of its value (-12%) since yesterday. SushiSwap (-12%), Ravencoin (-11%), Horizen (-11%), 1inch (-11%), THORChain (-10%) and Uniswap (-10%) are also in the next ranks. .