By Adeline Gibbs (Italy)
The overall crypto market cap stands at $1.28 trillion after losing 2.17% of its worth since yesterday. Also, the total cryptocurrency market volume lost 14.85% over the same period.
Top virtual currencies traded marginally down on Monday, Dogecoin leading the drops after shedding around 6%. That might be due to traders that booked their profits on some crypto coins. Excluding dollar-tied assets, all top cryptocurrencies plummeted during the first trading sessions today.
The overall cryptocurrency market cap declined to $1.28 trillion following 2.17% drops over the last 24 hours. Moreover, the overall cryptocurrency market volume dropped by 14.85% since yesterday to stand at $48.62 billion.
Meanwhile, Square, a renowned fintech firm, plans to create a BTC hardware wallet. That aims to ensure BTC custody achieves mainstream. The company’s CEO, Jack Dorsey, announced that they would collaborate with the crypto community to build the wallet on an open, software-hardware design.
Pakistan witnesses a crypto boom as most residents in the nation want to understand the whole notion of crypto trading and mining.
Also read:Edu Patel, Mudrex Co-founder, and CEO stated that the market might consolidate after the recent massive sell-off last week. The investor noted that the market sees indecisive day-cross after a highly volatile week. For now, analysts wait for the coins to break either level to register dependable momentum.
Tech View
At the moment, Bitcoin trades in a rectangle formation. The leading crypto seems to wait for market catalysts to register moves. With positivity, BTC has chances to rally over the $41,330 mark with massive buying momentum. On the other hand, the coin can breach $28,805 with magnified selling pressure. However, BTC lacks buying pressure for now as RSI maintains beneath the trend-line.
Today, Ether trades over its multi-week trend-line. If the altcoin manages to break its massive support at $1,711, it may experience increased selling pressure. Remember, Ether’s weakness would affect other alternative coins. Therefore, the alt market might experience rises if Ethereum conquers the $2,410 resistance zone. That would necessitate support from the broader market.
Stay around for more updates on cryptocurrency.
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