Any dip buyers left? Bulls are largely absent as the total crypto market cap drops to $1.65T
Cointelegraph
Published May 06, 2022 05:08PM ET
Updated May 06, 2022 06:40PM ET
The total crypto market capitalization has been trading within a descending channel for 24 days and the $1.65 trillion support was retested on May 6. The drop to $1.65 trillion was followed by Bitcoin (BTC) reaching $35,550, its lowest price in 70 days.
In terms of performance, the aggregate market capitalization of all cryptocurrencies dropped 6% over the past seven days, but this modest correction in the overall market does not represent some mid-capitalization altcoins, which managed to lose 19% or more in the same time frame.
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Written By: Cointelegraph
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