Crypto Market Slides Down – Action Forex
Market Picture
The crypto market capitalisation took a corkscrew turn over the weekend, falling to $2.35 trillion, a low since mid-2024 and a loss of 11.5% in 24 hours. The market has pulled back to levels seen in early November last year when Trump’s victory triggered a break of resistance. At these levels, the market looks emotionally oversold, which increases the chances of a bounce. However, for a rebound to be a reversal, fundamental changes are required, and these are not yet in place.
Crypto market sentiment has returned to the extreme fear zone of 23, which is significantly higher than what we see in equities. Meanwhile, nominal prices are updating multi-month lows. This does not mean that cryptocurrency investors are more…
