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Crypto Market Cap Slips Below $1 Trillion as Altcoins Bleed Out (Market Watch)

Summary:
The total cryptocurrency market capitalization dropped below trillion on Saturday as the majority of altcoins are bleeding out. Bitcoin also dropped below the coveted ,000 as the bulls failed to produce any meaningful increases. Bitcoin Below K The primary cryptocurrency has failed to chart any notable increases in the past 24 hours and is down some 1.3%. The bulls attempted to push the price upwards on a few occasions but were unable to do so. Eventually, this allowed sellers to prevail and to once again push BTC below the coveted K level. Source: Quantify CryptoThe last 24 hours saw about million worth of BTC positions being liquidated, which is relatively insignificant, showing that the volatility has also dried off. At this time, ETH futures traders

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The total cryptocurrency market capitalization dropped below $1 trillion on Saturday as the majority of altcoins are bleeding out. Bitcoin also dropped below the coveted $20,000 as the bulls failed to produce any meaningful increases.

Bitcoin Below $20K

The primary cryptocurrency has failed to chart any notable increases in the past 24 hours and is down some 1.3%. The bulls attempted to push the price upwards on a few occasions but were unable to do so. Eventually, this allowed sellers to prevail and to once again push BTC below the coveted $20K level.

img2_chart
Source: Quantify Crypto

The last 24 hours saw about $28 million worth of BTC positions being liquidated, which is relatively insignificant, showing that the volatility has also dried off. At this time, ETH futures traders seem to be a lot more prevalent.

Altcoins Bleeding Out

The majority of alternative coins lost between 1% and 3% over the past 24 hours in a slow sideways decline which is very characteristic of bear markets.

heatmap1
Source: Quantify Crypto

ETH lost about 2.61% over the period, and that led to about $90 million worth of ETH positions being liquidated. The largest single liquidation order had a face value of $1.86 million, and it took place on OKEx.

Solana lost 1.5%, MATIC – 1.2%, Ethereum Classic – 1.42%, NEAR – 2.3%, and so forth. It appears that the biggest outlier over the past 24 hours is Filecoin, which is up almost 9%. On the other hand, Helium’s HNT token is down 7.5% – the cryptocurrency that lost the most.

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