After an encouraging bullish run, most major cryptocurrencies including (BTC), Solana (SOL), and (ADA), were trading in the red on Monday as the crypto market fell by $100 billion.
The total market cap of the cryptocurrency space currently stands at $2.02 trillion, a 4.67% decrease over the last 24 hours. Specifically, the total crypto market volume in the previous 24 hours is $114.49 billion, which indicates a 6.17% increment. Bitcoin which currently trades at $44,494, slid down 1.7% since yesterday and 14.39% down in the last week alone, according to CoinMarketCap.com.
Additionally, the total volume in DeFi currently stands at $18.39 billion, which is 16.06% of the whole crypto market’s 24-hour volume. The volume of all stable coins is now $88.76 billion (approximately 77.53% of the total crypto market 24-hour volume).
Despite being down, crypto markets showed signs of stabilization on Monday as most traders and investors look to disregard the previous week’s volatility and get back to business as usual.
The most important cryptocurrency in terms of market value Bitcoin, found support below the $45,000 mark after $103.1 million was liquidated from traders, according to data analytics to Bybt.
Renowned crypto trading analyst Michaël van de Poppe expressed his belief that Bitcoin is still holding on to support in its current trading range.
#Bitcoin still holding on to support. pic.twitter.com/kqv8UAQgRY
— Michaël van de Poppe (@CryptoMichNL) September 13, 2021
While Josh Rager a crypto trading expert communicated disbelief on Bitcoin’s most recent drop, labeling it as absurd.
This Bitcoin price action is absurd pic.twitter.com/ENJ3KdlaJr
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