Cryptocurrency markets entered a notable correction on April 5, with the total market cap drooping to less than $2 trillion with the outflows of funds after the total market cap had peaked above $2.15 trillion 48 hours ago.
The crypto market, which recovered somewhat after the bottom prices seen in the first hours of the day, rose to over 2 trillion dollars again towards the evening hours. However, it can be said that the current buyer volume remains low to talk about a recovery.
This overall decline seen in the first week of April is attributed by many sources to the announcement of the FOMC March minutes. Technically, however, this decline is in the form of a correction of the uptrend that started in the second half of March.
Bitcoin (BTC) tries to find ground at $43,000
Bitcoin (BTC) broke the horizontal view in the band of $ 45,500 - $ 46,500 in April, as of yesterday, and fell to the level of $ 42,700. Bitcoin price, which has lost 3 percent in the last 24 hours, was trying to find ground at $ 43,000.
While the Bitcoin market cap decreased to $ 828 billion, the BTC dominance rate was 42%. According to the latest outlook, the weekly loss is at the level of 8 percent.
Ethereum (ETH) tests below the $3,200 level
The second-largest crypto-asset Ethereum (ETH) slumped below $3,200 in the overall market decline. Today, in low-volume transactions, Ethereum price is trying to find ground at $3,200, but the rapid bearish reaction remains weak, increasing the possibility of a second wave of selling.
Top 10 cryptocurrencies continue their negative trend
While the downward trend continued in the last 24 hours among the top 10 cryptocurrencies, Solana (SOL) and Terra (LUNA) are the crypto assets that lost the most with their daily losses of 5 percent.
When we look at the market in general, while the majority of the top 100 crypto assets continue to lose value, 10 crypto assets have increased their prices compared to yesterday.
Among them, Anchor Protocol (ANC) was the crypto asset that positively differentiated from the market with a value gain of 20 percent. Mina, Kava, Neutrino USD and Hedara took the top positions with gains of more than 5 percent.
STEPM (GMT), the crypto asset that was the only plus in yesterday's sharp decline, is today the most losing altcoin with a 15% decrease. At 94th place, Oasis Network and Audius are also among the top losing altcoins, down more than 10%.