The total cryptocurrency market capitalization dropped below $1 trillion on Saturday as the majority of altcoins are bleeding out. Bitcoin also dropped below the coveted $20,000 as the bulls failed to produce any meaningful increases.The primary cryptocurrency has failed to chart any notable increases in the past 24 hours and is down some 1.3%. The bulls attempted to push the price upwards on a few occasions but were unable to do so.
At this time, ETH futures traders seem to be a lot more prevalent.The majority of alternative coins lost between 1% and 3% over the past 24 hours in a slow sideways decline which is very characteristic of bear markets.ETH lost about 2.61% over the period, and that led to about $90 million worth of ETH positions being liquidated. The largest single liquidation order had a face value of $1.86 million, and it took place on OKEx.
It's a sign that the bear market is over for crypto. That's when everyone is shorting and they're all losing money. The volume is super slow. That's the time to buy before the Whales and Wall Street take the bargains.
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