- The crypto market cap stays bearish for more than seven days.
- The market capitalization has spiked over $300 billion over the previous 14 days.
The Crypto Market Capitalization reached $2.272 trillion last week. However, the crypto market stays bearish for more than seven days; will it bounce back, or will it be more bearish.
While Bitcoin has been moving downwards after reaching the all-time high of $66,000 on April 17. The crypto further fell on April 18, making a drop to a low of $50,931. However, this generated a very long lower thread, confirming the $51,000 area as support.
On the other hand, most of the technical indicators of the crypto market have turned bearish. The MACD has crossed into negative territory while the RSI has crossed below 50. Furthermore, the Stochastic oscillator has just made a bearish cross.
Despite the market decline, other altcoins continue to move. In fact, Dogecoin (DOGE) continues to shrug off the market decline and is up nearly 466% in the past week. It remains in the fifth spot but its market capitalization is already less than $5 billion.
DOGE is also the biggest altcoin mover, though Stacks (STX) is close behind. Stacks has added approximately 19% on the day and is trading for $2.43, driving it up to rank 49.
Nano (NANO) is the biggest fall so far. Although it was up by 55% last week, the crypto price fell to almost $6.48 on April 23.