Bitcoin Revisits $11,500 Support As Market Catipulization Begins

Market bulls are losing the battle this weekend. On Saturday, a lot of top coins are revisiting lower supports. in the overall market cap, this is set for the $350B support level.

Though much of this has been instigated by Bitcoin which has more than 50% of the market dominance, altcoins are the highest losers in the last 24 hours.

Read: New York Regulators Green-light 10 Coins For Custody and Listing

Selling Pressure

Bitcoin has lost a moderate 3% to drop to $11,500. Most altcoins on the other hand have lost as much as 10% breaching below critical supports.

Read: Bitcoin Bears Nowhere To Be Seen As It Climbs Above $11K

The latest drop is a warning shot to investors that while investors are largely optimistic, there is still much resistance at higher levels.

And as Bitcoin retracts and fails to break above $12K so does selling pressure increase for holders.

Read: Why Bitcoin Is Back Above $10K and $6K Will Never Be

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Author: admin

The team leader of the CryptoMute family. We want to bring you the latest updates in the crypto space so you can make informed investment decisisons.

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