Today’s market session kicked off rather slowly as the global market cap recorded a 0.28% drop within a day of trading to take the total cap to $1.06T as of press time. Bitcoin (BTC), the crypto king, has also had a slow start today as the asset falls back below the $26K level as of today’s market session.
Trading at $25.8, BTC ad saw a 0.8% drop within a day of trading as the asset comes from a weekly drop of 3%. Bitcoin’s volatility levels are also steadily increasing as the Bollinger bands slowly move away from each other indicating rising volatility.
The relative strength indicator is now moving below its average line, indicating a likely bearish trend on Bitcoin as bears now push for the oversold region. The MACD indicator is also now moving below the average line as the asset’s bears now look to take control of the network.
Altcoin analysis
Ethereum (ETH) is also facing a turbulent session as the asset now trades at $1738, representing a drop of 0.6% within 24 hours of trading as the market cap, currently at $209,076,206,018, also recorded a 0.6% drop within the same period as the trading volume also dropped by 5% to take it to $6B.
BNB is however continuing its recovery run despite today’s rough market as the asset now boasts a 6% gain within a day of trading to take its price to $249 as the weekly loss in valuation now dropped to 10%. BNB’s current trading volume has seen an 11% increase within the same period to take it to $957 as of press time.
Terra Classsic (LUNC), third on CoinMarketCap’s trending list, is sitting on a 2.6% gain within 24 hours of trading as the asset continues its notable gains streak for the second market day consecutively. LUNC has also seen a 67% surge in trading volume within the same period as activity on the network continues to rise.
Other altcoins are also having a rather turbulent session, with Polygon (MATIC) standing as one of the few gainers, recording a mild 0.3% gain within 24 hours as others such as Ripple (XRP), Cardano (ADA), Dogecoin (DOGE) and Solana (SOL), sat on losses of 3,5%, 1.9%, 0.2%, and 2% respectively as bears dominate today’s markets.
Linear Finance (LINA), ranking as the top trending asset, has also seen an 8.9% drop within a day of trading to take its price to $0.01464 as of press time as the asset now has a trading volume of $155M and a circulating supply of 5.45B LINA.
