Crypto Market Nosedive – Action Forex
Market Overview
The crypto market took a nosedive, losing almost 4% of its market cap over the last 24 hours. Without Bitcoin’s growth, altcoins, which had been driving the market upwards in previous days, found themselves on sale. Forty-eight of the top 100 altcoins are losing double-digit rates over 24 hours, while only three are growing.
The first cryptocurrency has been facing both a price drop and an outflow from ETFs over the past couple of days, while Ethereum continued to attract new capital to funds. Meanwhile, BTC remains stuck in a narrow range. At $117.3K on Thursday morning, it was on its way to the lower limit of $116K. A reversal to growth will be needed to stop the build-up of pessimism for the entire crypto…
