The crypto markets are back on the reds today. We have almost the whole board losing 2-5% on the day. But there’s been a couple of coins and tokens fighting this $3 Billion weekend drop.
The market capitalization has dropped to $216.7 Billion after clinging for so long in the $220 Billion area. The trading view is sinking lower at $11.9 Billion and naturally, our Bitcoin dominance is once again going up, up, and away at 52.5% which is not surprising since the altcoins are once again having a panic attack at the moment.
The Bitcoin price began dropping today after holding on to the $6600 level but is still ranging. It went as low as $6526 earlier and according to the chart, might still drop during the day. We have the $6500 as a major support. If things go south it may reach $6400 in the short term. On the upside, in case things go right for Monday, the resistance is at $6650 where sellers might appear and cash in gains. Above that, we can expect an upward trend for the week.
Ethereum is also fighting hard not to drop more and has only lost -1.33% on the day which might be a good sign for the coin. It is currently at $223 and ranging. The volume is not that great and the chart is going to the bearish side.
For the Top 10, we have reds with only Tether predictably on the green with traders seeking haven from the storm. Ripple’s XRP is the biggest loser at -7.31%. It has been consistently on a downtrend this weekend and is now trading at $0.477, a far cry from last Sunday’s $0.062 at its peak. Stellar is next at -2.33%, and the rest are losing 0-2% on the day.
The Top 25 is hardly making any difference with just 2 greens at the moment. Maker is still positive – a continuation of yesterday’s good performance. It is now at 1.44% gain and trading at $620.80 from yesterday’s$610.53. NEM is barely positive at0.49%, and the rest are down at the moment. Bitcoin Gold is the biggest loser at -4.77%, while Dash and Tezos follow at -3% loss. The rest are at 0-2% loss.
For the rest of the altcoins, there’s no big pump but we do have several good performers for this Sunday. Noah Coin, the remittance coin from the Philippines is once again leading the top 100 good performers at 19.90%, DigixDao is not doing badly at 15.73%, and Populous rounds off our double-digit gainers today. On the rough side, we have Loopring losing at -5.20%.
Overall, still not a huge drop for today. We did lose big on our market capitalization -$3 Billion overnight, but the BTC is not having a huge selloff. We have a good squeeze right now and it’s about to blow. Time will tell if we’ll go big or go home.
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