Dear Friends,
The global crypto market continues to fall losing over 9% in the global crypto value in the last 24 hours.
The global crypto market cap currently valued at $1.97 Trillion.
Interestingly the total crypto market volume over the last 24 hours is $120.8 billion, which makes a 41.10% increase.
The total volume in DeFi is currently $7.78 Billion which is 6.44% of the total crypto market 24-hour volume.
The volume of all stable coins is now stands at $113.3B, which is 93.80% of the total crypto market 24-hour volume.
BTC is currently trading at $ 54246.43 which has lost 7.09% from yesterday.
ETH is currently trading at $ 2870.71 which has lost 9.95% in the past 24 hours.
BTC has touched the long term support.
RSI is in deeply over sold region.
In my opinion, it can't go more fall from here. If it goes, there are possibilities to touch $ 50000.
But it is not very sure what is fueling this dump - other than the Mt Gox wallet movement that has seen to get ready to pay off $9.4 billion worth of Bitcoin to its customers after a period of 10 years and the the reported crypto wallet transfer from the German Federal Criminal Police Office of about $75 million to crypto exchanges- signaling a massive sell off.
But what interesting is that the BTC miners after the halving process, they get less incentive which also made them to sell their inventory of BTC which further added the fuel to the BTC downtrend fire.
It is very hard to predict the market now.
But whenever if you see a big fall, don't panic and try to do DCA in your investment coins.
As per the web data of https://farside.co.uk/?p=1321, you can get to know the BTC ETF Flow.
But, it is widely shown that BTC ETF will continue to attract the inflows.
Once the ETH ETF started to trade in the market, there will be huge inflow into the crypto market also.
I took entries in ETH and BNB.
In spite of all these huge falls, the major analyst hopes that the pump is also inevitable both in BTC and ETH counters.
But it is widely advised to accumulate as much as possible before the ETH ETF trading is come into effective in the crypto markets.
So, Stay strong guys!
There are risks - But the market gives plenty of opportunities too where you can look out and use it consciously!
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