Bears are taking over the cryptocurrency market on Wednesday (18) and have pushed bitcoin to about $45,500, according to CoinGoLive.
Alternative currencies, which have soared recently, are struggling to maintain the positive gains they have made. The Audius protocol, for example, which was 90% high yesterday, is falling 14.9% in 24 hours.
Bears take over Bitcoin today
The cryptocurrency market leader is trading at $45,511 this Wednesday morning (18th), after losing steam trying to overcome an important resistance close to $48,000.
The asset hit the $48,000 level after a rally catalyzed by individual investors on Monday.
Underpinning these recent moves is a resurgence of interest from individual retail investors. According to the Wall Street Journal, the resurgence of interest from these investors returned “after cryptocurrencies received a boost in late July.”
However, the BTC is still falling 2.79% in 24 hours, and its market value approaches US$850 billion.
The market is mostly in the red today and has bled out some of the top altcoins that make up to double digit losses this morning.
The one that falls the most at the moment is Audius (AUDIO), with a retreat of 14.9%, to US$ 2.81, after an impressive surge of 90% the day before when it closed a deal with Tiktkok. Even Solana, which had registered consecutive price records, started the day with a measly 0.18% gain in 24 hours.
Unlike these two altcoins, Axie Infinity (AXS) rises 8.05% in 24 hours and returns to trade for US$ 74.05.
The result of altcoins in 24 hours is as follows: Ethereum (-5.41%), Cardano (-3.16%), Binance Coin (-6.12%), Ripple (-7.7%), Dogecoin ( -10.7%), Polkadot (-8.6%), Solana (+0.18%), Uniswap (-10.32%), Bitcoin Cash (-6.25%), Chainlink (-9.9 %) and Litecoin (-6.47%).
Finally, the cumulative market capitalization of cryptocurrencies dropped to just over $1.99 trillion.
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