Following yesterday’s $7 billion crypto market dump things stabilized for a while but have just started to head south again accelerating losses. Total market capitalization has shrunk again in the past couple of hours as another $3 billion goes out of the digital door.
The likelihood of Bitcoin breaking its new resistance level at $3,500 was slim at best. It formed a new channel at $3,460 for a few hours before dropping below that in another slide which has taken 2% off the value of BTC as it heads towards $3,400. Volume has increased to $6.5 billion has the outflow accelerates.