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Crypto market can witness another crash if Bitcoin [BTC] drops below..

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If BTC’s price goes below the $22,300 range, it can drop further down. Negative sentiments prevailed in the market but a few metrics had a bullish bias. Bitcoin [BTC] has been disappointing investors for quite a few days with its sideways price action. CoinMarketCap’s data revealed that BTC failed to register gains last week as […]

The situation was critical, as a catastrophic decrease between 15% to 25% in the value of altcoins might occur if Bitcoin were to reach the $19,500 threshold. Thus, causing yet another collapse of the crypto market.helped provide a better understanding of the current scenario. The data showed that there was a decline in the global crypto market capitalization over the last week.

At press time, it was just over $1.02 trillion. Though the market cap went down, altcoin’s market dominance increased, which can be attributed toSource: LunarCrush Another analysis from Santiment pointed out a similar negative trend in the crypto space. The report mentioned that there was a spike in negative sentiment around crypto on various social media platforms. Interestingly, the majority of the negative words on social media were coming from Twitter.

 

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