– Crypto markets have seen net outflows of $27.2 billion over the last 24 hours and currently stand at $1,023.36 billion.
– The top 10 cryptocurrencies all posted losses, with Cardano suffering the biggest losses, down 5.8%, closely followed by Dogecoin, which lost 5.7%.
– Bitcoin saw a loss of 1.2%, falling to $22,617 as of 07:00 ET.
The crypto markets have experienced a sell-off after a recent period of bullish form. Over the last 24 hours, the cryptocurrency market cap saw net outflows of $27.2 billion, bringing the total market cap to $1,023.36 billion – a decrease of 2.6% from $1,050.56 billion. The market leader Bitcoin saw a loss of 1.2%, falling to $22,617 as of 07:00 ET. Its market dominance increased to 42.6% from 42%.
The top 10 cryptocurrencies all posted losses, with Cardano suffering the biggest losses, down 5.8%, closely followed by Dogecoin, which lost 5.7%. Ethereum, the number two cryptocurrency by market cap, lost 4.7% over the last 24 hours to trade at $1,548 as of 07:00 ET, with its market dominance falling to 18.5% from 19.1%. ETH peaked at $1,632 over the reporting period, leading to a sharp dip that found support at $22,297 before 21:00 (ET). A muted recovery ensued, but BTC remains below the 24 hour peak price.
The market cap of Tether (USDT) stayed flat at $66.87 billion, while USD Coin (USDC) increased to $43,75 billion, and BinanceUSD (BUSD) fell to $15.32 billion.
It remains to be seen whether the market will continue to experience losses or if it will regain its recent bullish form. Investors should remain vigilant and keep abreast of the latest market developments before making any decisions.