3 key metrics suggest Bitcoin and the wider crypto market have further to fall
— Funding, Sentiment, Market, Suggest, Fall, Rate, Triangle, Bitcoin, Total, Source — 1 min read
From July 4 to 11, Bitcoin (BTC) gained a modest 1.8% while Ether (ETH) price stood flat. The total crypto market is down 50% in just three months, which means traders are giving higher odds of the descending triangle formation breaking below its $840 billion support. The European Central Bank (ECB) released a report concluding that a lack of regulatory oversight added to the recent downfall of algorithmic stablecoins. A handful of mid-capitalization altcoins rallied 13% or higher even though the total market capitalization increased by 2%. Aave (AAVE) gained 20% as the lending protocol announced plans to launch an algorithmmic stablecoin, a proposal that is subject to the community's decentralized autonomous organization. Source