The cycle continues as yesterday’s pump turns into today’s dump. Crypto markets have again failed to hold any short term gains and are falling back once again. Total market capitalization is back below $130 billion as the cycle rinses and repeats and $8 billion gets wiped out in a mere hour or so.
Bitcoin bounced off intraday highs of $4,060 twice before beating a retreat. A massive dump has just initiated as one huge red hourly candle knocked BTC back below $3,850 wiping out recent gains and resulting in over 5% declines on the day.