Bitcoin

The total market capitalization of <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrencies</a> has experienced a notable decline in recent days as investors jumped ship amid the increasing <a href="https://finbold.com/category/regulations-news/" rel="noopener noreferrer nofollow">regulatory</a> scrutiny faced by the digital asset industry, particularly from the United States Securities and Exchange Commission (<a href="https://finbold.com/topic/sec/" rel="noopener noreferrer nofollow">SEC</a>).On Monday, June 12, Michaël van de Poppe, a widely-followed crypto expert, <a href="https://twitter.com/CryptoMichNL/status/1668144643148480514?s&#61;20" rel="noopener noreferrer nofollow">weighed in</a> on this matter, pointing out a critical threshold the global <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">crypto market</a> cap must recover to avoid further slumps.<blockquote>– van the Poppe wrote in a tweet.“Mayday, mayday. Total market capitalization is beneath the 200-Week MA and EMA. Needs to get back above $1.04T during this week to avoid further downwards momentum for Crypto.”</blockquote><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/1c9b2e85b6934f9e8691975d29891330.jpg" />Crypto market cap 200-WMA and EMA. Source: Michaël van de PoppeMarket analysts regularly monitor the 200-week moving average (<a href="https://finbold.com/guide/moving-average/#:~:text&#61;Moving%20average%20definition,%2Dto%2Dday%20price%20fluctuations." rel="noopener noreferrer nofollow">MA</a>) and exponential moving average (EMA) levels due to their significance in assessing long-term trends and market sentiment.The 200-week MA is a long-term indicator that smoothes out price fluctuations over a span of approximately four years, providing a clear view of the overall trend. Crossing above or below the 200-week MA can signal a major shift in market direction, influencing investor sentiment and triggering significant buying or selling activity.<h2 id="header-0">Global crypto market cap analysis</h2>At press time, the global crypto market cap slightly stood at $1.02 trillion, seeing a slight recovery of 0.24% in the past 24 hours. Over the past week, the markets lost 7.32%, or $52 billion.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/5ec3ab782a474253955ca4f9869fd022.jpg" />Crypto market cap 1-week chart. Source: TradingViewAs can be noticed from the chart, the sharpest decline occurred on June 10, a day after stock brokerage Robinhood <a href="https://finbold.com/robinhood-to-delist-cardano-solana-polygon-heres-when-support-will-end/" rel="noopener noreferrer nofollow">announced</a> it would delist Solana (<a href="https://finbold.com/cryptocurrency/solana/" rel="noopener noreferrer nofollow">SOL</a>), Cardano (<a href="https://finbold.com/cryptocurrency/cardano/" rel="noopener noreferrer nofollow">ADA</a>), and Polygon (<a href="https://finbold.com/cryptocurrency/polygon/" rel="noopener noreferrer nofollow">MATIC</a>) from its online trading platform, due to “a cloud of uncertainty around these assets” amid the SEC crackdown.Those three altcoins <a href="https://finbold.com/why-is-ada-sol-matic-price-crashing-today/" rel="noopener noreferrer nofollow">witnessed</a> particular selling pressure in the past 7 days, plummeting 27.8%, 23.6%, and 27%, respectively.Meanwhile, last week, the securities regulators <a href="https://finbold.com/coinbase-sued-by-sec-in-new-york-federal-court/" rel="noopener noreferrer nofollow">filed</a> lawsuits against the world’s two biggest crypto exchanges, <a href="https://finbold.com/review/binance-review/" rel="noopener noreferrer nofollow">Binance</a> and <a href="https://finbold.com/review/coinbase-review/#:~:text&#61;Today%2C%20Coinbase%20is%20thriving.,2021%2C%20according%20to%20Finbold%20analysts." rel="noopener noreferrer nofollow">Coinbase</a>, citing a breach of federal securities laws, commingling of investor funds, and listings of unregistered crypto asset securities, among other accusations.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finold.com</a>.

Crypto market cap on the brink of catastrophic crash below $1 trillion

목차

Finbold

2023년 6월 12일에 게재된 다른 기사

Recent SEC filing marks 67 altcoins as securities

The Block founder Mike Dudas criticizes SEC and EOS

Ripple Named Among Best Workplaces in Bay Area in 2023

Top Bitcoin Horse Betting Sites

The Stellar Ecosystem is rapidly expanding and attracting more DeFi developers

Ripple Forms Partnership with Canada’s Largest University, Launches XRP Validator

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!