The crypto market continues to decline with negative news from stablecoins, Bitcoin (BTC) and market assessment.
Buyers in the crypto market weakened after BTC tested $25,250. With many negative news overlapping as the triggers of the decline, BTC has reached the level of $ 20,000. In particular, the ongoing problems with stablecoins have panicked the crypto investor. These problems are not only limited to crypto, but also continue in the banking industry.
Bitcoin (BTC) Chart Analysis
Looking at the 15-minute period on the BTC side, it is seen that the price decline continues. Permanently surpassing the $20,450 level is needed for the price to move up. Currently, BTC, which is at an intermediate price, may experience decreases to $ 21,190 if it cannot find enough buyers in the crypto market. Shaken by the recent Fud news, if BTC fails to maintain the close support at $19,560, the decline may accelerate.
Market Value Analysis for Bitcoin
With the successive Fud news in the crypto market, there were also sharp decreases for the BTC market value. BTC is hovering above the $377 billion market cap. In order for the BTC market value to move upwards, it can be followed that it permanently exceeds the market value of 403 billion dollars. In the possible market capitalization scenario, the $377 billion level can act as support.
Bitcoin Dominance, What is the Latest Situation for Altcoins?
BTC, which is in the intermediate support in terms of price, has reached the intermediate level within the dominance level. Receiving a reaction from approximately 42.81 percent dominance level, BTC may experience decreases on the side of altcoins as it exceeds 43.60 percent dominance level. The relaxation process of the BTC dominance level to 42.80 percent can be followed in order to create a bullish momentum on the altcoins side.
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