Friday in the freedom fighters of crypto, Bitcoin (BTC) was at $56,900 when the day began, and traded mostly-sideways in the first quarter (first six hours). Early in the second quarter however, BTC started to gradually fall till it ended up at $56,300, with a massive sell-off in its horizon. Out of nowhere, the “orange coin” went rolling rapidly down the chart, in a steep manner, ending up at $55,000 by midday with no support along its way. The second-half of the day was even worse for “Bit,” as the asset continued to bleed more severely, dropping down as fast-as-ever, losing sight of support at $54,000, $53,000, $52,000, $51,000 and even $50,000 before the third quarter was through. In the fourth and final quarter, BTC kept falling in a drastic way, not finding support at $49,000 or $48,000, until it eventually ended up at $47,700 on a downward trajectory going into the weekend. After a devastating day in the markets that resulted in BTC losing a substantial $10k-or-so (18%) of value in a matter of 24 hours, the largest crypto is now down 14% for the week and 26% for the month, but still up 140% for the year, while its marketcap lost over $100 billion and is now just-below $900 billion. Bitcoin dominance, meanwhile, has fallen .3% since yesterday and is currently at 38.6% versus all crypto assets.
It was a similar story for Ether (ETH) on Friday, the asset trading mostly-sideways in the first quarter just-below $4,600 before gradually falling to $4,530 leading into the second quarter. Like clockwork, following in BTC’s path, ETH had a massive fall from grace, sliding uncontrollably down the chart till it was at $4,200 before half-the-day was through, and still falling. After a small attempt at support in the second-half around $4,200, ETH continued to fall rapidly, losing $4,100 and even falling below $4,000 till it ended up at the edge of $3,900 going into Saturday. After losing about $7k (16%) in a scary day in the markets, ETH is now down 5% for the week and 16% for the month, but still up 525% for the year, while its marketcap is at roughly $450 billion.
With BTC and ETH greeting the weekend with despair, it is not shocking that 100% of the projects in the Top 100 by marketcap closed the day in the red. Among that list, there were too many double-digit losers, while virtually all of the projects in the ‘Top 10’ went downn in that figure as well. Some of the biggest losers of the day in terms of marketcap value were as follows: Binance Coin (BNB) lost 15%, Solana (SOL) lost 21%, Cardano (ADA) lost 21%, XRP (XRP) lost 22%, Polkadot (DOT) lost 25%, Dogecoin (DOGE) lost 23% and Avalanche (AVAX) lost 22% to wrap up a horrible day in crypto. The total marketcap of all crypto assets, meanwhile, fell a whopping 17% in the same time period, losing almost half-a-trillion dollars before ending up at $2.282 trillion leading into Saturday.
- Bitcoin(BTC)afterStartingFridayJustBelow$57,000fallsMassivelyAndRapidlyWithNoSupportAlongItsWayTillitEndedUpAllTheWayDownAt$47,700toWrapUpTheWeekDown18%forTheDay/14%forTheWeekAnd26%forTheMonthWithItsMarketcapNowAtAround$900billionAndBitcoinDominanceAt38.6%
- Ether(ETH)closesFridayTerriblyLikeBTCgoingFromJustUnder$4,600AllTheWayDownTo$3,900whereItWouldEventuallyCloseTheWeekNowDown16%forTheDay/5%forTheWeekAnd16%forTheMonthButStillUp525%ForTheYearWhileItsMarketcapHasDroppedAlmost$100billionToAround$450billion
- TheAltcoinsAfterClosingThePreviousDayWithAnEvenNumberOfWinnersAndLosersAmongTheTop100byMarketcapyesterdayCloseFridayWithAll100inTheRedOfWhichThereWereTooManyDoubleDigitLosersIncludingAllTheTop10projectsWhileTotalCryptoMarketcapTumbled17%to$2.282trillion
https://www.coingecko.com/