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MIXED END FOR CRYPTO WEEK: BTC MANAGED TO AVOID RED AFTER NINE-WEEKS

MIXED END FOR CRYPTO WEEK: BTC MANAGED TO AVOID RED AFTER NINE-WEEKS 

It was a mixed Sunday session of the crypto market, with a legal discussion from the US examining the resilience of investors over the weekend.


In recent days, a number of lawmakers have targeted cryptos, highlighting risks and calling for more oversight.


The collapse of TerraUSD (UST) and Terra LUNA has given lawmakers a reason to shed light on the crypto market.


Crypto winter negotiations and trade-offs that lay off workers or cold counts continued to add to the misery.


For bitcoin (BTC), five green sessions out of 7, covering a 7.69% rally on Monday, ended a nine-week loss.


Crypto Market Cap Visits Sub- $ 1,200bn For The Third Day In A Row

On Sunday, the total market capitalization of crypto fell to $ 1,196 billion before the end of the day to $ 1,214 billion.


The $ 2,000 billion decline for the third consecutive session has continued to show a bearish trend across the market.


For crypto bulls, directing the current May 12 low of $ 1,082 billion will remain key.


BTC rose 0.18% on Sunday. Following a 0.56% gain on Saturday, BTC finished the week with 1.51% to $ 29,898.


In all the other top ten, ADA (+ 0.18%), ETH (+ 0.07%), and XRP (+ 0.77%) joined BTC in a positive position.


BNB (-0.76%), Dogecoin (DOGE) (-1.03%), and SOL (-1.28%) finished the day in red, however.


Throughout the week, a split of the top ten was evident. The ADA was a success story, rising by 22.0%, while the SOL dropped by 11.9%.


Total Crypto Liquidations Point to Camer Market Conditions

Market conditions were not good compared to the week. According to Coinglass, the 24-hour disposal stands at $ 81.52 million. While rising to levels seen on Saturday, the closure remains below the $ 500 million level seen mid-week.


The 1-hour and 4-hour closure suggests a reduction in trading pressure, which supports the recovery of bitcoin from previous losses.


At the time of writing, the total completion of one hour stood at $ 2.62 million.


Markets are likely to continue to look for closures, with any support test.


Best Crypto News images from Day,

Luna 2 finished the week up 23.4% but remained 40.3% down at an opening price of $ 10.69.


STEPN (GMT) announced it was under several DDOS attacks on Sunday, which left GMT down 6.2% on the day.


The Tron Foundation has brought stabilitycoin clarity through the ‘Tron DAO Reserve’ page to allay fears following the collapse of TerraUSD.


Over the weekend, the Bored Ape Yacht Club announced the exploitation of the discord server, which has an impact on 200 ETH NFTs.

Source: yahoo



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