Yesterday morning, the cryptocurrency market seemed to pick up again for a while and the total market capitalization rose from $2.1 trillion to $2.2 trillion. However, the market is looking less rosy this morning and many prices are still correcting sharply downwards. Total market cap is falling back below $2.1 trillion at the time of writing.
Bitcoin (BTC)
Bitcoin (BTC) appeared to break out for a while yesterday morning when the price suddenly jumped from $45,000 to $46,000. Bitcoin could not break through that yet, but nevertheless managed to hold its own. Until midnight, when bitcoin made a big move back to $ 44,800, but then also a bounce upwards. However, Bitcoin was rejected around $46,500 this time and then plummeted sharply.
At the time of writing, bitcoin is dropping to $44,400. Bitcoin continues to fall slightly after the September 7 crash. Even then, the likelihood of a retest of the support around USD 44,000 seemed to be higher than the resistance around USD 50,000. Historically, September has usually been a red month for bitcoin. For now, the on chain dates there bullish and BTC continues to flow away from cryptocurrency exchanges.
altcoins
Ethereum (ETH) is again following bitcoin and made a significant move up from $3,300 to $3,450 yesterday morning. However, ether is falling back to $3,200 this morning. Cardano (ADA) drops even harder. The ADA price rose to $2.77 last night, but this morning it comes out at $2.36, a drop of 15%. Binance coin (BNB), ripple (XRP) and dogecoin (DOGE) are also all three. .5% down today.
In addition, we see the crypto that has risen the most in recent weeks, fall the hardest today. Quant (QNT) and omg (OMG) are 10% in the min, arweave (AR) and near (NEAR) lose 12% and fantom (FTM) and solana (SOL) both lose 15% of their value. Terra (LUNA) is even 17% in the minus and avalanche (AVAX) almost 19%. As a result, these prices have lost quite a bit from their recent gains.
Polkadot, on the other hand, rose sharply in the past 24 hours. DOT briefly peaked at $37.5 last night after gaining 21%, but is also beginning to fall at the time of writing. Still, polkadot is not the only crypto that is still in the green today.
Algorand (ALGO) and elrond (EGLD) are both a few percent in the plus and therefore still almost 60% in the green compared to a week ago. Tron (TRX) is up 6% and Cosmos (ATOM) is up 7% in the last 24 hours. Osmosis (OSMO) is a newcomer to the top 100, rising 9% today and 40% this week, now at a market cap of $1 billion. Tezos (ZTX) is the hardest riser from the top 100 today, peaking around $7.60 last night after rising 12%.