Profit taking and Bitcoin consolidation give bears an opportunity to take control

Cointelegraph

Published Apr 04, 2022 07:53PM ET

Updated Apr 05, 2022 10:00PM ET

The total crypto market capitalization reached its highest close in three months on April 3 at $2.23 trillion, but the performance between March 28 and April 4 was a mere 1.9% gain. During this time, Bitcoin (BTC) presented a 2.6% negative performance, although that was more than offset by the gains from altcoins.

Total crypto market cap, USD billion. Source: TradingView

While Ether (ETH) and BNB gained less than 3% over the past seven days, a handful of mid-capitalization altcoins managed to rally 20% or higher.

Weekly winners and losers among the top 80 coins. Source: Nomics
Tether (USDT) peer-to-peer vs. USD/CNY. Source: OKX
Accumulated perpetual futures funding rate on April 4. Source: Coinglass

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