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BITCOIN DECLINING AT HIGH PACE AND WILL EXTEND ITS LOSING IF IT DOESN’T RECLAIM $30,300

BITCOIN DECLINING AT HIGH PACE AND WILL EXTEND ITS LOSING IF IT DOESN’T RECLAIM $30,300

The ETH / BTC rating is 0.061, the lowest since October, as ETH has dropped by 37% in the past 30 days, compared to the 23% BTC slide. ETH trades at $ 1,760, its lowest level since July 2021, while BTC trades at $ 29,000.


Traders flocked to the first and largest crypto currency among the wide range of market trades. Investors are becoming increasingly risky as the US Federal Reserve plans to continue raising interest rates to combat rising consumer prices. On May 4, the central bank raised prices by 50 points, the biggest move in two decades.


"I think people are resorting to secure betting [rather than] focusing on things other than Bitcoin now. If crypto falls, BTC falls slightly compared to ETH and L1. So the volatility of the decline is small," explains Nelson Lim of Nansen. .


The Bitcoin percentage of the total cryptocurrency market, also known as "Bitcoin dominance," is rising by more than 40% after immersion at 39% for the first time since 2018.


Crypto has been trading with lockstep and stock markets for the past few months. Today, though, it is different.


While the Nasdaq increased by 3%, Ether sank more than 7% and most altcoins continued to deteriorate significantly. Bitcoin was spotless, down 1% on the day.


Worst Players

NFT STEPN's Move-to-Earn hearing has worsened today, down 36%


The Avalanche Layer-1 blockchain hit hard, spending 17% to $ 23. We are now down 84% from the top all the time.


ApeCoin trades at 16% below $ 6.13.


DeFi locked total price stands at $ 83B, down 5% per day and is more than $ 100B compared to last year's high price.


Although we still hold on to the bear market, many builders and investors remain optimistic.


"We are taking a ten-year vision of new invention," wrote Not Boring Capital founder Packy McCormick. "At that time, we can have no doubt that the models created in this bear market will link organizations, movements, and nations with larger orders than today's largest DAOs and agreements, by market measure, certainly, but more importantly, about participation."

Source: yahoo



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