Why is crypto down today? Market sentiment has a role to play

📆 8/29/2024 11:26 PM
📰 CryptoAmb

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Bitcoin and Ethereum encountered stern resistance at $64k and $2.8k, dragging the market down, but there are other reasons why crypto is down

On the 26th of August, the total crypto market capitalization dropped from $2.216 trillion to $2.041 trillion the next day. This was a $215.87 billion or 9.7% drop across the market.The Tether dominance chart measures Tether’s market capitalization as a share of the total crypto market cap. The chart above showed USDT.D rose by 10.91% from Monday, running into a resistance zone at 5.9%.When USDT.

Since Bitcoin and Ethereum are the largest assets and most major altcoins’ price performance has a high positive correlation with them, AMBCrypto decided to examine their liquidation heatmaps.

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