Bitcoin was down 2.5% on Monday and, continuing its decline on Tuesday morning, was back at $20,000. Ethereum has lost 5.2% in the past 24 hours to $1090. Altcoins in the top 10 fell from 1.1% (XRP) to 5.2% (Solana).

Total cryptocurrency market capitalisation, according to CoinMarketCap, sank 2.6% overnight to $891bn. The Cryptocurrency Fear and Greed Index lost 6 points, dropping to 16, and has been cruising through “extreme fear” territory for over two months.

The rising dollar and a new wave of pressure on stock indices did not escape Bitcoin on Monday amid a renewed fall in stock indices. Market dynamics indicate that sellers have been taking a pause in an attempt to sell some assets at a higher price but remain the dominant force in the markets.

Investors are demonstrating a similar sentiment. More than 60% of major US crypto investors surveyed by Bloomberg MLIV Pulse expect bitcoin to fall to $10,000. If the collapse of the industry’s major projects results in significant losses for investors and causes a domino effect, the industry could face increased regulation.

Fed Vice Chair Lael Brainard said that the situation with the wave of defaults of cryptocurrency companies requires more oversight of the crypto industry. Bank of England spokesman Jon Cunliffe said the crypto industry regulation should be similar to traditional finance.

A remarkable transformation as cryptocurrencies emerged and were seen by enthusiasts as self-regulating instruments, rejecting and resisting any interference and centralisation. However, if investors lose a lot of money or suspect the creators of fraud, they will likely seek protection and regulation themselves.

According to investment strategist Lyn Alden, the worst part of the crypto market’s bearish trend ended in the first half of 2022, when bitcoin lost more than 56% of its value. The massive sell-off in BTC has stopped, but further declines cannot yet be ruled out.

MicroStrategy CEO Michael Saylor said Ethereum and other altcoins are securities because of the cryptocurrency issuer. And only bitcoin is a commodity because its blockchain cannot be changed, like the physical composition of gold.

Trade Responsibly. CFDs and Spread Betting are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.37% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider. The Analysts' opinions are for informational purposes only and should not be considered as a recommendation or trading advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Circle announces cross-chain USDC payment support

Circle announces cross-chain USDC payment support

When it comes to cryptocurrencies, the first spot is fixed for Bitcoin. However, the struggle between the second and the rest of the cryptos continues. This case extends to stablecoins as well since USDC is finding takers even in the most unconventional cases.

More Cryptocurrencies news

Cardano price remains still after Vasil hard fork, what’s next?

Cardano price remains still after Vasil hard fork, what’s next?

Cardano price has remained neutral despite the blockchain undergoing a massive upgrade this week via the Vasil hard fork. This update is multi-faceted and brings a host of improvements to the so-called “Ethereum-killer”, including transaction throughput. 

More Cardano news

XRP Price Prediction: Trade against retail, you'll win every time

XRP Price Prediction: Trade against retail, you'll win every time

XRP price is showing applaudable retaliation signals. Since September 25, the bears have conquered the market, forging a 20% loss in market value for the digital remittance token. Invalidation of the bullish thesis is a breach of $0.31.

More Ripple news

Terra Luna Price Prediction: Why the call for a 10x bull run may have been made premature

Terra Luna Price Prediction: Why the call for a 10x bull run may have been made premature

Terra Luna's price may be headed lower than investors may be thinking. Tera's LUNA price could take investors by surprise in the coming days. Since August, the forecast was made that LUNA could potentially 10x in market value.

More Terra news

Bitcoin makes a bullish comeback amid regulatory tension, but lacks confirmation

Bitcoin makes a bullish comeback amid regulatory tension, but lacks confirmation

Bitcoin price takes the first step to recovery but needs solid confirmation that will arrive after a flip of the $19,539 level into a support floor. After a successful flip, investors could expect a move up to an intermediate hurdle at $20,737.

Read full analysis

BTC

ETH

XRP