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Another Week In Downtrend for Bitcoin and Altcoins

Another Week In Downtrend for Bitcoin and Altcoins

Jul 04, 2022
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The volatility in crypto markets does not seem to cool down as BTC, ETH and other major altcoins went down.

After another failure above $ 18,800 on Thursday and a minor upward move above $ 20,500 the day after, Bitcoin (BTC) signs another week in downtrend losing nearly 9% in a week and now consolidating near $ 19,100 level.

Over the last seven days, most major altcoins traded below key support levels. Ethereum (ETH) price failed to surpass $ 1,100 and went down 12.3% in a week. Solana (SOL) is trading at $32.72, down 16.5% in the last seven days, while XRP is struggling below $ 0.325 losing 11.6% in a week and Polkadot (DOT) stands at $ 6.73, down 14.4%. After a partial recover due to support from Elon Musk in the past few weeks, Dogecoin (DOGE) started to depreciate again losing 10.1% last week.

The last seven days session pulled the global cryptocurrency market below $870 billion: on today, the crypto market cap stand around $865.42 billion down 1.04% over the last day.

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