Bitcoin

Bitcoin Market Report: $BTC Death Cross Crash

Brief:


Three financial quarters of bearish trendlines and a technical “death cross” trading condition combined to trigger a large selloff which saw $25 billion shaved off total crypto market cap in just twenty-four hours. Bitcoin dropped heavily along with the alts. Bitcoin is down -10.08% in 24 hours, down -11.43% on the week and down -8.09% on the month on a last price of $5826.24. The Bitcoin marketcap is $101,238,348,456 with a circulating supply of 17,376,275 $BTC. $BTC/USDT is trading between a 24hr high of $6484.14 and a 24hr low of $5656.87 on a 24hr Binance volume of $260,795,532. This trading volume is moderate to heavy. The weekly price trend is down.

Rank #1

Bitcoin is ranked #1 today by cryptocurrency market capitalization.

Last price

5826.24 $BTC/USDT

$USD

last price $ 5826.24
one week ago $ 6578.46

Price change

Price change is the $BTC percentage change within the period:

period change
day -10.08%
week -11.43%
month -8.09%

Volume

Volume

$BTC 24 hour volume
USDT $260,795,532
all $BTC currencies $7,076,311,936

The 24 hour volume for $BTC/USDT on Binance is $260,795,532. This volume weight is moderate to heavy when compared with Binance daily trading levels for $BTC over the last month.

The total 24 hour volume for all reporting $BTC markets is $7,076,311,936.

Market Share

The Binance currency pair $BTC/USDT is 3.69% of all $BTC traded in twenty-four hours. Binance is fifth ranked today.

Top $BTC Pairs

Remarks

Three financial quarters of bearish trendlines and a technical “death cross” trading condition combined to trigger a large selloff which saw $25 billion shaved off total crypto market cap in just twenty-four hours. Bitcoin dropped heavily along with the alts. Bitcoin is down -10.08% in 24 hours, down -11.43% on the week and down -8.09% on the month on a last price of $5826.24. The Bitcoin marketcap is $101,238,348,456 with a circulating supply of 17,376,275 $BTC. $BTC/USDT is trading between a 24hr high of $6484.14 and a 24hr low of $5656.87 on a 24hr Binance volume of $260,795,532. This trading volume is moderate to heavy. The weekly price trend is down.

Just twenty four hours ago the total cryptocurrency market capitalization stood at $210 billion. Today its just $85 billion. The selloff affected bitcoin and alts as prices tumbled across the board.

Global Market Capitalization: One Month

Alts Affected
Alts tumbled heavily double digits and most of the top ten all took large losses:

Coindesk analyst Omkar Godbole reports “On the three-day chart, the 50-candle simple moving average (SMA) looks set to cut the 200-candle SMA from above, confirming what is popularly known as the “death cross.”” and “bulls, however, are cautioned against betting on a follow-up price jump immediately, as prices dropped 50 percent in the four weeks following the death cross confirmation in mid-December 2014.”

One Year $BTC Chart

$BTC One Day Candles

Browse Bitcoin Collection

Learn about the unique characteristics of $BTC. Browse our collection of Bitcoin Market Reports.

24 Hours of Bitcoin
24 Hours of #Bitcoin
-10.8% price $5,665.42
vol $7,160,592,071
mktcap $98,444,219,166
17.38M #XBT 23:08
http://kittybitcoin.com/bitcoin/24_hours_of_bitcoin.php

XBTLivePriceTM

Highlight Chart

Tap / click to enlarge:

A technical trading condition 'death cross' triggered a large selloff which saw $25 billion shaved off total crypto market cap in just twenty-four hours. Bitcoin dropped heavily along with the alts. Bitcoin is down -10.08% in 24 hours, down -11.43% on the week and down -8.09% on the month on a last price of $5826.24.
A technical trading condition ‘death cross’ triggered a large selloff which saw $25 billion shaved off total crypto market cap in just twenty-four hours. Bitcoin dropped heavily along with the alts. Bitcoin is down -10.08% in 24 hours, down -11.43% on the week and down -8.09% on the month on a last price of $5826.24.

Data sources

Main Data Source

Binance is the main data source for this report. The One Day Candles chart, highlight chart, and digital asset numeric trading data are from Binance.

Secondary

CoinMarketCap is the secondary data source for this report. The One Year Chart, cryptocurrency rank, token circulating supply, and daily market share are sourced from CoinMarketCap.com.

Tertiary

XBTLivePriceTM and 24 Hours of Bitcoin are fine data products from KittyBitcoin.com

Other sources are credited where used.

Market capitalization

Market capitalization is the total $US dollar value of the Bitcoin market calculated using the formula:

market cap = ( circulating supply x last price )
Market cap $ 101,238,348,456
Circulating supply 17,376,275
Last price $ 5826.24

Daily High Low

daily high 6484.14 USDT
daily low 5656.87 USDT

Trend

The weekly trend is down.

trend is DOWN

Trend is "down" when the weekly price movement is predominantly downwards.

Resistance

Resistance is the highest price within the period:

period resistance
day 6484.14 USDT
week 6594.00 USDT

Support

Support is the lowest price within the period:

period support
day 5656.87 USDT
week 5656.87 USDT

Market sentiment

$BTC market sentiment is bearish.

sentiment bearish

Image courtesy Pixabay.com

Summary

Three financial quarters of bearish trendlines and a technical “death cross” trading condition combined to trigger a large selloff which saw $25 billion shaved off total crypto market cap in just twenty-four hours. Bitcoin dropped heavily along with the alts. Bitcoin is down -10.08% in 24 hours, down -11.43% on the week and down -8.09% on the month on a last price of 5826.24. The Bitcoin marketcap is $101,238,348,456 with a circulating supply of 17,376,275 $BTC. $BTC/USDT saw weekly resistance at $6594.00 USDT and weekly support at $5656.87 USDT. Market sentiment is bearish. The weekly price trend is down in daily moderate to heavy volume trading.

Bitcoin & Ethereum

Disclaimer

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Printed

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