After a week of significant gains, the crypto market seems to be cooling-off with most digital assets witnessing declines.
Bitcoin’s price dropped 2.3% in the past 24 hours below $95,000, but is still up 5.8% on the weekly chart. The flagship cryptocurrency has a market cap of $1.896 trillion and a 24-hour trading volume of $48 billion.
During this period, positions worth $493.18 million were wiped out – $385.67 million in longs, and $107.51 million in shorts, according to data from Coinglass.
Despite this price drop, the 1-day technical analysis from TradingView remains bullish with the summary pointing to “buy” at 15, moving averages show “strong buy” at 13, and oscillators remain “neutral” at 7.
The total cap of the crypto market declined by 2.83% in the past 24 hours and is currently at $3.26 trillion.
Ethereum lost 3.6% of its value in this timeframe with a trading volume of $29 billion. Nevertheless, ETH is still up 6.4% in the past 7 days and has a market cap of around $399 billion.
The biggest loser today is XRP, which lost over 11% with volumes reaching $11 billion. The altcoins is still up 24.7% this week, following the major price surge we witnessed some days ago.
Bitcoin’s market signal has officially shifted back into a low-risk phase, according to a new chart shared by Bitcoin Vector in collaboration with Glassnode and Swissblock.
Financial author Robert Kiyosaki is once again sounding the alarm on America’s economic health.
Metaplanet Inc., a Tokyo-listed company, has just added 780 more Bitcoin to its treasury. The purchase, announced on July 28, cost around ¥13.666 billion or $92.5 million, with an average price of $118,622 per BTC.
Ethereum just crossed the $3,900 mark, rising over 62% in the past month, according to CoinMarketCap data.