Amid allegations a new whale manipulation, the crypto market surge yesterday ended abruptly as the market cap tails-pinned and plummeted from 2019 highs. The crypto board has fallen to the reds with losses assaulting most major coins and dragging them down beyond the gains earned yesterday.
The rout took the market capitalization from a 2019 high of $144 Billion down to $128.7 Billion, losing over $15 Billion in just a few hours. This level is still higher than what they have been for most of this month. The trading volume is even bigger than yesterday at $38.4 Billion but these volumes might be moving outwards. Meanwhile, the Bitcoin dominance is back up at 52.3% from yesterday’s 51.2%.
Bitcoin nosedived from $4200 level to its current price at $3832 with a loss of -8.12%. This comes after a triumphant break above the $4k which many predicted is the start of the new season. Just like on the last dump on the 10th of January, the movement was abrupt and quick. On the 4-hour chart, it is now moving to a more regular beat but faces a great resistance at around $3900.
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