Reasons Behind the Decline in the Crypto Market
Monday, 20 May 2024, 07:59
Reasons Behind the Decline in the Crypto Market
Total Market Cap & Bitcoin Price
- Total crypto market cap and Bitcoin observed a decline in the last 24 hours.
- The bearish trend has extended to today, affecting Pyth Network.
Market Analysis
- Total market capitalization is facing resistance at $2.40 trillion.
- A possible drop to $2.29 trillion if the resistance isn't breached.
- Bitcoin's price action is consolidating between $68,500 and $64,800.
- A fall below $64,800 could signal further decline.
Pyth Network's Situation
- Pyth Network is at a four-month low, trading at $0.38.
- Reaching $0.46 might invalidate the bearish thesis.
Understanding the nuances of the current market conditions and its impact on different assets is essential for navigating the volatile crypto space.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.