An Overview of Today's Criptocurrency Market Saturday, June 26
Bitcoin falls below $ 31,000
Gradually, it becomes a tradition for Bitcoin to begin a downward trend as the weekend begins. After the cryptocurrency recovered from a mid-week fall to more than $ 35,000, it was in relatively good shape yesterday.
This was the highest BTC price in the last four days, but the bears did not allow the price to rise further. On the contrary, they caused prices to fall by creating tangible selling pressure.
Thus, within a few hours, Bitcoin lost more than $ 3,000 in value and fell below $ 32,000. Although it initially reverted somewhat to previous levels and recovered some of its losses, the bears did not give up and lowered the BTC below $ 31,000.
On the other hand, bitcoin dominance in the market is still high, but this is only because Altcoins do not have favorable conditions. The BTC market value has now dropped below $ 600 billion.
Red dominates the Altcoins market
As always, with the start of the bitcoin downtrend, the situation among Altcoins has worsened. The atrium is a prime example of this condition. Ether, which was above $ 2,000 for a few days, fell 9 percent to below $ 1,800.
Binance Quinn also fell 8 percent from $ 310 to about $ 270 in 24-hour timeframe. Other major altcoins on the market have also lost significant value. Including Cardano (-7%), Dogecoin (-10.5%), Ripple (-9%), Polkadot (-8.5%), Bitcoin Cash (-7%), Litecoin (-7%) and Uniswap (-10%) .
With the exception of Celo, which has had a 25 percent pump since yesterday, most low to medium market value altcoins have turned deep red today.
THORChain is the leader in this unfavorable competition with 17% dump today. Kusama (-16%), Curve DAO Token (-15%), ICP (-15%), BakeryToken (-14%), NEAR Protocol (-14%), Synthetix (-13%), Phantom (-13%) ), The Graph (-12%), Nano (-12%) and FTX Token (-12%) are some other examples of currencies that have seen double-digit declines today.
Finally, the cumulative market value of all cryptocurrency assets has lost more than $ 160 billion a day and is below $ 1.3 trillion.