The prices of several major cryptocurrencies including Bitcoin, Ether, Solana, Dogecoin and Shiba Inu fell on Friday, November 19. Bitcoin, in a run up to its constant fall over the past week, was trading below the $57,000 mark. At the time of writing this article, the price of one Bitcoin was standing at $56,854.60. This was down by 8.54 per cent over the last 24 hours, and fell by 10.53 per cent in the past seven days. The fall in the prices came days after Bitcoin registered its all time high of more than $68,000 last week. The dominance of the cryptocurrency decreased too. At the time of writing, Bitcoin’s market dominance was 42.60 per cent, a decrease of 0.72 per cent over the day.
“The past 24 hours were massively volatile for the cryptocurrency market. Bitcoin toyed with the critical support level at $57,000. It is a significant level as it could trigger a large number of stop-loss orders creating a massive liquidation event. This would put the bears in-charge of the market and disrupt the current momentum,” said Edul Patel, founder and CEO of Mudrex.
Ether prices also dipped to a weekly low on the day. At the time of writing this article, Ether, the world’s largest altcoin was priced at $4,155.68. This was down by 0.92 per cent over the last 24 hours and 9.86 per cent over the past seven days.
“Bitcoin, Ethereum and other major altcoins have remained subdued almost 3 days in succession. On the daily timeframe, Bitcoin can be seen traversing within a channel pattern, frequently retesting the support of $58,000 mark. The RSI indicator has fallen below 40, a sign that the token is close to being oversold. We could soon expect a reversal in the trends based on the current scenario and the general optimism surrounding bitcoin,” said the WazirX Trade Desk.
The largest alt coin, Ether, dropped and hovered around the $4000 mark. Following the drop in BTC and ETH, all of the top 30 cryptocurrencies by market cap ended in red. With the weekend approaching, we could see an even larger sell-off if the crucial support levels are taken out. The coming 24 hours would likely be bearish for the crypto spectrum. Long-term investors would likely be eyeing to invest in some of the good projects after the dip. The total crypto market cap dropped to around $2.5 trillion, with a marginal increase in the traded volumes,” further commented Patel.
The global cryptocurrency market capitalisation saw a huge dip in its numbers on Friday, November 19, following the trend of a constant fall over the past few days. The market cap was standing at 2.52 trillion, data from CoinMarketCap showed. This was 7down by 3.52 per cent over the past 24 hours. The total crypto volume, however, increased significantly during the course of the last day. The volume of traded coins stood at $146.83 billion, which was a 20.16 per cent increase over the last 24 hours, data from CoinMarketCap showed.
Angry Squid was the top gainer in the global crypto market, the data on the crypto tracking website showed. Over the last 24 hour, the value of one token increased by 454.77 per cent. One token was priced at $0.008517, as per data. NFTStyle occupied the second spot in the top gainers’ pack, priced at $0.000000005302 and up by 381.71 per cent over the last 24 hours. GenshinShibInu, valued at $0.0000004941 per token, continued its upward trend and came third with a surge of 199.44 per cent in the last day.
As far as losers were concerned, the top spot went to Ethereum Meta. The price of one token went down by 95.36 per cent and was trading at $0.00000004005. Cowboy Bebop Corgi and Drachma came second and third in the chart, decreasing by 82.60 and 81.71 per cent respectively during the course of the last day.
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
1.Angry Squid: $0.008517 – up by 454.77 per cent
2. NFTStyle: $0.000000005302 – up by 381.71 per cent
3. NFTStyle: $0.000000005302 – up by 381.71 per cent
4. Squirt Game: $0.000000004222 – up by 186.27 per cent
5. MetaZuckZilla: $0.000000666 – up by 152.04 per cent
6. Cryptogodz: $2.11 – up by 150.84 per cent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
- Ethereum Meta: $0.00000004005 – down by 95.36 per cent
- Cowboy Bebop Corgi: $0.00003682 – down by 82.60 per cent
- Drachma: $0.00000000002908 – down by 81.71 per cent
- OptimusRise: $0.000000644 – down by 78.95 per cent
- HLB Token: $0.5111 – down by 69.29 per cent
- ForeverBNB: $0.0000000004144 – down by 69.17 per cent