Crypto Market Now Officially On Correction, Bitcoin Dominance Spikes

The crypto markets have started Tuesday in a bit of a setback and have followed its predicted correction during the Asian trading session. Most assets are red after Bitcoin hit resistance and short term traders are cashing in their gains.

 

The market capitalization is down to $178 Billion, down by $4 Billion from yesterday. The trading volume is now down to $55 Billion, and as altcoins take the brunt of a Bitcoin fall, the BTC dominance is up at 51.2%.

 

Bitcoin wasn’t able to break the $5300 level and dropped to its current price at $5190. It is now consolidating at this time and is expected to stay here for the short term. From this level, the next resistance is at $5450, with the support at $5090.

 

 

In tune with the market, Ethereum has fallen back to $175.99 from yesterday’s high at $185. It has lost -2.24% on the day after failing the resistance at $180. For this price level, the next resistance is at $200. It seems that yesterday’s bullish posturing is once again squashed by Bitcoin. XRP has moved down with a loss of -2.37% to $0.349.

 

The rest of the Top 10 is down, more so than yesterday and is in the reds at the time of this writing. Cardano has switched back to the 10th place with a loss of -5.30%. Binance Coin is still is a losing streak with a loss of -4.59% while Bitcoin Cash, earlier claiming the 4th spot has now fallen back to the 5th spot and a loss of -4.26%. Litecoin has likewise lost a big one at -3.59%.

 

The Top 25 is, as always doing more than the Top 10 with bigger losses. Dogecoin continues its downfall with a -11.59% loss. Bitcoin SV has lost -7.01% while Maker has lost -6.11%. Both Ethreum Classic and NEO has lost -5% on the day.

 

Down the Top 100, REPO is back on the pump list (again) and has now risen an astounding 95.62% on the day. This asset has been pumping and dumping throughout the month. Other obscure coins on a pump are ABBC Coin at 17.01% and WaykiChain at 10.74%. On the other end, the controversial Vestchain, which pumped yesterday, is now dumping at -32.22% with scam allegations from its community. Maximine Coin, forming to be another classic pump and dump coin has lost 11.54%. Loopring is still losing out at -11.15%, a second-day dump, and already lost its gains on its initial pump.

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