An overview of the cryptocurrency market Thursday, May 27 Bitcoin's failure again at $ 40,000

Bitcoin began its gradual recovery on Monday following the latest developments following news of China's position in the cryptocurrency market. Within hours of the price drop to $ 31,000 on Sunday evening, BTC experienced a price increase of more than $ 5,000.

As we reported yesterday, the market's top cryptocurrency continued to rise, reaching $ 40,000. The cows were able to push the price to the highest daily level and close to $ 41,000. However, they could not continue this process any longer. So soon after, it began to decline again.

In the first place, recent reports of a ban on BTC mining in Iran by the end of the peak electricity consumption season have pushed bitcoin below $ 40,000. After that, the same trend continued and reached $ 37,400 (on Bitstamp).

Despite a $ 1,000 improvement since then, the asset shows a 4 percent decline on a 24-hour scale.

Red-clad Altcoins

Yesterday, most of the replacement coins also went up, with Atrium closing above $ 3,000 and BNB close to $ 400. However, the situation has changed somewhat and most penises are seen in red today.

Ether failed to break the $ 3,000 resistance and reached about $ 2,700 with a 3.5% negative correction. Baines Coin (BNB) also fell 2.6% to $ 360. Cardano (-2%), XRP (-4%), DOGE (-5.5%), Polkadot (-4%) and Bitcoin Cash (-4%) have also fallen since yesterday. In contrast, Uni Swap with 3% The growth has been met and China Link has risen 5% to over $ 32.

Among the lower market value altcoins, Enjin Coin (32%), Livepeer (15%), Chiliz (13%) and Stacks (11%) had double-digit growth. On the other hand, Revain (-13%), Phantom (-13%), Harmony (-12%), Shiba Inu (-12%) and Holo (-11%) were down.

The cumulative value of the cryptocurrency market has fallen by $ 100 billion since yesterday to $ 1.7 trillion.