Crypto Market Faces Losses

Hello, crypto family!

Crypto market is a bit of a mess right now. After a long period of bull domination on the market, bears seem to be recovering. The way situation on the market changed during past 24 hours was quite a shock for many people. Market capitalisation dropped by almost 20 billion dollars. Trading volume dropped by 10 million dollars. Bitcoin dominance on the market also decreased.

Despite hopes that BTC would go about $12,000, it’s price sunk to below $11,000. It didn’t stay there for a long time, quickly recovering to $11,200. But this was enough to shake the market. The currency lost over 6.5% of its value in the last 24 hours.

Many of the most popular coins also lost around 4% of their value. The whole market is red with just a few coins being profitable. And some of them added quite a lot to their value. For example,Bytom price increased by 11%, SOLVE – by almost 13%, and Waltonchain – 16%.

Even though bulls did a decent job at resisting pressure of bears, it is hard to tell to what extent bears recovered their strength. And the next few days will determine which direction the market will choose.

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