An overview of the cryptocurrency market -Tuesday, May 11
Bitcoin Falls $ 6,000
Despite the strong movements and the upward trend of the last few days, BTC has not been able to overcome the resistance of $ 60,000. As we reported yesterday, the market's top cryptocurrency hit a three-week high of $ 59,600.
As the community waited for the $ 60,000 psychological resistance to pass, the bears stepped in and took control. In the hours that followed, Bitcoin began to fall rapidly, dropping more than $ 6,000 to its lowest daily level, just below $ 53,600.
Despite a relative return and multi-thousand dollar recovery, BTC continues to show a decline of about 6% on a 24-hour scale. In addition, the currency still dominates the cryptocurrency market below 43%.
Sea of Blood in the Altcoins Market
Over the past few weeks, the replacement Quinns have performed more dramatically than their leader. However, most of them have fallen sharply since yesterday.
Atrium, which has seen explosive growth at the top of all altcoins, set a record high of $ 4,200 yesterday. However, it immediately plummeted to $ 400 and reached its lowest daily price level at $ 3,800. Ether has improved slightly since then and is now trading below $ 4,000.
Binance Coin (5.5%), Ripple (10%), Cardano (7.5%), Polkadat (12%), Bitcoin Cash (12%), Light Coin (12%) and China Link (12 -%) are all red today.
Dodge Quinn has fallen sharply since Ilan Mask appeared on SNL, falling another $ 11% to below $ 0.5.
Bitcoin Diamond (-20%), Qtum (-18%), ICON (-17%), Ethereum Classic (-17%), OMG Network (-15%), Phantom (-15%), DigiByte (-15% ), Ontology (-15%), Avalanche (-15%) and EOS (-15%) saw more fluctuations.
Typically, after a massive market downturn, the crypto market value also fell by about $ 200 billion yesterday, now reaching over $ 2.4 trillion.