The BTC is still selling. Investors are inactive, but the rate is definitely heading down – and no obstacles to this decline are on the horizon yet. On Monday, the leading cryptocurrency is heading for $19,083.
Today is a holiday in the US – the Independence Day. Stock markets are closed, which means in the currency sector volatility can be lower than usual. There is still a correlation between the S&P 500 and Nasdaq and the BTC, so the behaviour of exchange markets is very important.
As long as activity is minor, sellers in the BTC might try to move to $17,500. For buyers, the market situation has not changed, and it is as negative as possible. To make the crypto less oversold and return to the morning growth, the BTC needs to return to $23,000-$23,500. But yet there are no reasons for it.
Capitalisation of the crypto market is now evaluated as 0.865 trillion USD, and it has dropped somewhat since Friday.
Top 10: just sales
Over the last 24 hours, the cryptocurrencies from the Top 10 list were declining. The SOL and ETH looked worse than others, losing about 1.5% each. The BTC, DOGE, and BNB moved alongside the market. The ADA was stabler than others.
Glassnode: whales are still interested in BTC
According to Glassnode, major investors, aka whales, who hold more than 1,000 BTC keep accumulating the cryptocurrency. They are not really worried with the price decline.
Source: Roboforex
