Lido DAO

Bitcoin

Impact

Billion

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/mt-goxs-5-billion-move-affects-crypto-market/" data-wpel-link="internal">Mt. Gox’s $5 Billion Move Affects Crypto Market</a><br></p>
<p style="text-align: justify">The total value of the <a href="https://en.coin-turk.com/bitcoin-price-recent-developments-and-future-predictions/" data-wpel-link="internal">cryptocurrency market</a> (TOTAL) and <strong>Bitcoin (BTC)</strong> faced problems following Mt. Gox’s $5 billion move. The emerging downward trend also affected altcoins. Lido DAO (LDO) witnessed a sharp decline. So, what are the expectations after the downward momentum in the <strong>cryptocurrency</strong> markets?</p> 
<h2 id="total-value-in-cryptocurrencies">Total Value in Cryptocurrencies</h2> 
<p style="text-align: justify">With the Mt. Gox <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a> increasing the downward trend among investors, the total cryptocurrency market value formed a downward candlestick on the charts today. The total value of all <strong>cryptocurrencies</strong> dropped by $45 billion. However, TOTAL still remains around the fundamental support of $2.50 trillion at $2.48 trillion. If this value loses its upward momentum, it could cause the crypto market valuation to drop further. This situation could bring TOTAL to the $2.40 trillion level.</p> 
<p style="text-align: justify">Given that Mt. Gox’s $5 billion <strong>BTC</strong> move has stirred today’s market, Bitcoin’s price may inevitably enter another downward trend. The cryptocurrency’s price fell by just over 2%, causing BTC to lose its support at $68,500. This is a critical support level. Preparing this as a support base is crucial for paving the way for recovery. Although further declines are not expected, bearish <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market conditions</a> could pull BTC down to $66,000. However, reclaiming $68,500 as support could reignite optimism.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-356560 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/bitcoinnn.jpg" alt="" width="755" height="336"></p> 
<h2 id="impact-of-the-decline-on-altcoins">Impact of the Decline on Altcoins</h2> 
<p style="text-align: justify">On the other hand, Lido DAO’s price significantly increased in the second half of May. However, it showed different behavior in the last 24 hours. <strong>LDO</strong> approached breaking the critical resistance of $2.6 as the market winds shifted from bullish to bearish. As a result, Lido DAO failed to breach and fell to $2.4. Investors and the market need to exert pressure to attempt another breach. If this does not happen, LDO could fall to $2.2. Consequently, Mt. Gox’s $5 billion BTC move caused a decline in the crypto market. The total market value decreased by $45 billion. BTC and altcoins declined. Lido DAO fell to $2.4.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/mt-goxs-5-billion-move-affects-crypto-market/" data-wpel-link="internal">Mt. Gox’s $5 Billion Move Affects Crypto Market</a></h5>

Mt. Gox’s $5 Billion Move Affects Crypto Market

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