Bitcoin

Litecoin

Dogecoin

TRON

Polygon

Solana

Polkadot

IL CAPO OF CRYPTO

Today’s <a href="https://blockchainreporter.net/market/" rel="noopener noreferrer nofollow">market</a> session has kicked off on a rather bearish note with the global market cap recording a 2.69% drop within a day of <a href="https://blockchainreporter.net/glossary/trading/" rel="noopener noreferrer nofollow">trading</a> taking the total cap to $1.11T as of press time. BTC, the crypto king continues to face turbulence as it now drops back to the $26K level as of today’s trading session.  Trading at $26.6K, BTC had recorded a drop of over 3% within a day of trading as it now sits on a weekly loss in valuation of 8.9%. <a href="https://blockchainreporter.net/bitcoin-price/" rel="noopener noreferrer nofollow">Bitcoin’</a>s trading volume has faced a 15% within the same period as the total cap also dropped by 3% within the same period.Bitcoin’s volatility levels are rather stable with the Bollinger bands now moving closer to each other. The MACD indicator is moving below the average line, signalling a bearish trend on Bitcoin’s network. The relative strength index indicator is also moving below its average line as bears look to drive the asset to the oversold region.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/52f1804fb1474441bd7de80ec0dd2dde.png" />BTC 1-day chart | Source: <a href="https://www.tradingview.com/chart/mBPnB4WJ/?symbol&#61;BITSTAMP%3AETHUSD" rel="noopener noreferrer nofollow">TradingView</a><h2 id="header-0">Altcoin analysis</h2><a href="https://blockchainreporter.net/ethereum-price/" rel="noopener noreferrer nofollow">Ethereum</a>’ the altcoin king, is also on for a bear market recording a drop of 3.4% within 24 hours. ETH has now dropped back to the $1.7K level as the asset sat on a weekly drop of 6.98%. Trading at $1764 as of press time, ETH’s trading volume had recorded a decrease of 13% within 24 hours.Ripple has however defied today’s <a href="https://blockchainreporter.net/glossary/bear-market/" rel="noopener noreferrer nofollow">bear market</a> as it now trades at %0.436 as of press time, representing a 1.7% increase within 24 hours. Ripple is looking to recover from a weekly loss of 5.7% as its trading volume recorded a surge of 7.5% within a day of trading.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/65ba9907b97841198f417017c11d8846.png" />XRP 1-day chart | Source: <a href="https://coinmarketcap.com/currencies/ripple/" rel="noopener noreferrer nofollow">CoinMarketCap</a>Other <a href="https://blockchainreporter.net/altcoins/" rel="noopener noreferrer nofollow">altcoins</a> are however in a turbulent market session with Dogecoin and Litecoin recording drops of 1% within 24 hours, as <a href="https://blockchainreporter.net/solana-price/" rel="noopener noreferrer nofollow">Solana</a>, <a href="https://blockchainreporter.net/polkadot-price/" rel="noopener noreferrer nofollow">DOT</a>, and Tron dropped their valuations by more than 2% as Polygon lost 3% as of press time.Today’s most notable gainer is bagged by CAPO, trading at $0.0166, representing a 24-hour gain of 115% as well as a weekly gain of 777%. CAPO’s trading volume has also surged by a tremendous 233% as its total cap also went up by over 100%. CAPO is ranking at 6th on CoinMarketCap’s trending list.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/eb8a11bf9f1647929f80da2b19aae7a4.png" />CAPO 1-day chart | Source: <a href="https://coinmarketcap.com/currencies/il-capo-of-crypto/" rel="noopener noreferrer nofollow">CoinMarketcap</a>Suipad has also surged massively recording a 24-hour gain of 49%. Trading at $0.2602 as of press time, the asset’s market cap has also raised by over 50% within the same period.

BTC and ETH Drop Further as CAPO Dominates

Table of Contents

BlockchainReporter

Other articles published on May 12, 2023

Solana Supports Two Big Blockchains, Chainlink Partners with Brickken and Big Eyes Coin Readies f...

Bitcoin drops to $26K as the result of Binance whales selloff

Exploring the Future of the Internet: An Introduction to Web 3.0

FTX CEO Sam Bankman-Fried Seeks Dismissal of Majority of Criminal Charges

Hashflow price analysis: Bearish momentum drives HFT price levels down to $0.419

Grayscale Launches Funds Trust and Files for Three New Crypto ETFs

Join our free newsletter for daily crypto updates!