2 key metrics point toward further downside for the entire crypto market

2 key metrics point toward further downside for the entire crypto market


The total crypto market capitalization has been holding a slightly ascending trend for the past 3 months and the $1.75 trillion support was most recently tested on April 27 as Bitcoin (BTC) bounced at $38,000 and Ether (ETH) at $2,800 on April 27.

Total crypto market cap, USD billion. Source: TradingView

The crypto market’s aggregate capitalization showed a 3.5% decrease in the last 7 days and notable losers were a 18.8% loss from XRP, a 10.2% loss from Cardano (ADA), and 9.7% drop in Polkadot (DOT) price.

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Analyzing a broader range of altcoins provides a more balanced picture, that includes 25% gains from some gaming and Metaverse projects in the same time period.

Weekly winners and losers among the top 80 coins. Source: Nomics

Apecoin (APE) rallied 44% due to

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