Bitcoin, Ethereum Plunge over Fresh Profit Takings
Sell pressure on Bitcoin, Ethereum, and others has plunged cryptocurrencies market value downward as investors mood changed. The trading pattern in the last one to two hours revealed a negative mood in the cryptomarket.
Bitcoin has plunged to $94,000 level at the time of writing, while Ethereum is trading below $3600. This came in sharp contrast to earlier gains recorded over the weekend.
Retail investors have begun to sell down ahead of the December holiday, and analysts have predicted a slowdown in the rally until 2025. The bearish prediction was anchored on wide holdings by retail investors across the world, as against corporate holdings.
At noon, data showed that the global crypto market cap has slumped to $3.38 trillion, a 1.23% decrease over the last day, from $3.34 trillion.
Only Doge coin and Cardano are currently trading positive, up by 0.82% and 0.73% respective, as per data from the CoinMarketCap.com.
The total crypto market volume over the last 24 hours continues to surge, reaching $227.93 billion during the trading session, which makes a 61.53% increase.
The total volume in DeFi is currently $17.3 billion, accounting for 7.59% of the total crypto market 24-hour volume.
Also, the volume of all stable coins printed at $203.3 billion, which is 89.19% of the total crypto market 24-hour volume. # Bitcoin, Ethereum Plunge over Fresh Profit Takings Bitcoin Hits $87,000, Crypto Market Cap Nears $3 Trillion
