Abstract:
- Crypto tokens proceed to bleed as market uncertainty persists.
- Market leaders Bitcoin and Ethereum dipped over 15% on Monday.
- BTC is down greater than 6% within the final 24 hours and trades beneath $23,000.
- Technical analyst MagicPoopCannon predicted a leg down for BTC to the $20K or $22K stage.
One other troublesome week for the world of digital belongings as the full cryptocurrency market cap slipped beneath $1 trillion on Tuesday. Knowledge from on-chain aggregator CoinMarketCap confirmed that the full money presently circulating throughout crypto tokens sits underneath $950 billion at press time.
The final time crypto’s market cap reached these ranges was round 16 months in the past, again in February 2021.
![Total Crypto Market Cap Falls Below $1 Trillion For The First Time Since February 2021 20 Total Crypto Market Cap Falls Below $1 Trillion For The First Time Since February 2021 16](https://en.ethereumworldnews.com/wp-content/uploads/2022/06/Screenshot-106-1024x452.png)
Crypto Leaders Bitcoin And Ethereum Dip To Ranges Not Seen Since 2022/2021
Crypto’s main token Bitcoin took an enormous hit on Monday amid a basic market hunch. BTC dropped by nearly 20% in a single day, going as little as $21,800 on some exchanges. The highest crypto token can be down on Tuesday by over 7% and trades round $21,900 at press time.
As EWN beforehand reported in Could, technical analyst MagicPoopCannon (MPC) predicted a leg down to those ranges. MPC cited macro help indicators across the $20,000 to $22,000 areas as the idea for his or her value prediction.
Bitcoin’s plunge beneath $24,000 additionally broke by way of the supposed realized value stage highlighted by Dylan LeClair, Head of Market Analysis at Bitcoin Journal. The final time BTC dipped so far as $21K was again in December 2020, nearly 2 years in the past.
Notably, LeClair identified that hitting these low ranges might point out {that a} backside is in or shut.
Equally, the main altcoin Ethereum additionally slumped considerably beneath $1200 regardless of anticipation surrounding The Merge. ETH presently exchanges fingers at $1,194 after a slight restoration since Monday’s 15% dip. Ethereum dropped as little as $1,080 for the primary time since January 2021. Per information from TradingView.
![Total Crypto Market Cap Falls Below $1 Trillion For The First Time Since February 2021 21 Total Crypto Market Cap Falls Below $1 Trillion For The First Time Since February 2021 17](https://en.ethereumworldnews.com/wp-content/uploads/2022/06/ETHUSDT_2022-06-14_12-50-05.png)