BTC futures data show retail investors are betting on price recovery
Crypto market turns ice-cold as BTC drags altcoin market down
The cryptocurrency market continues to drop today as BTC searches for buyers and ETH gets desperate.
After cooling off yesterday, the cryptocurrency market has turned ice cold this morning — with the total market capitalization shaving off 6.5% and falling below $1.5 trillion. The price of BTC, meanwhile, has lost an additional 3.7% — bringing the valuation of most altcoins down with it.
Sentiment among cryptocurrency market participants has cooled slightly but still remains in a place of extreme greed — according to multifactorial crypto market sentiment analysis from alternative.me.
DeFi TVL falls back under $40 billion as market corrects
The decentralized finance market is hemorrhaging value amid the wider cryptocurrency market correction. The total value locked in DeFi is currently firmly under $40 billion at $37.71 billion, with nearly every major project sustaining significant losses to its TVL. Aave, Synthetix and Flexa are all down in double-digit percentages.
Decentralized exchange TVLs have not been spared. Curve Finance, Uniswap and SushiSwap have all lost roughly 6%, with the latter seeing a slightly worse loss than the top two DEXs.
Top altcoin gainers and losers: MIOTA leads major altcoins
- SOC/USDT +12.88%
- BOT/USDT +10.41%
- MIOTA/USDT +8.72%
- ANW/USDT -16.16%
- RNT/USDT -17.74%
- APIX/USDT -19.77%
Looking at the top-performing altcoins with market capitalizations over $1 billion, MIOTA is the clear winner after a modest gain of roughly 8%. STX comes in second among this class of altcoins after gaining more than 5%.
BTC technical analysis: BTCUSDT testing buyers at key area
The price of BTC on OKEx has failed to find support at the ribbon of exponential moving averages on the four-hour time frame and is, as expected, falling toward 46,000 USDT.
Sellers will have to add pressure if they are to push the market-leading cryptocurrency down through this level of interest and back toward 38,000 USDT. Putting in a higher-low on the four-hour time frame could inject confidence into buyers eager to buy bull-market dips.
ETH technical analysis: ETHBTC running out of time
It's basically do-or-die time for ETHBTC today. Putting in a higher low on the four-hour time frame while adding pressure to the EMA ribbon could spark a bullish rally. Failure to do so, however, would not inspire confidence in bullish traders.
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