Bitcoin

The total market capitalization of <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrencies</a> has experienced a notable decline in recent days as investors jumped ship amid the increasing <a href="https://finbold.com/category/regulations-news/" rel="noopener noreferrer nofollow">regulatory</a> scrutiny faced by the digital asset industry, particularly from the United States Securities and Exchange Commission (<a href="https://finbold.com/topic/sec/" rel="noopener noreferrer nofollow">SEC</a>).On Monday, June 12, Michaël van de Poppe, a widely-followed crypto expert, <a href="https://twitter.com/CryptoMichNL/status/1668144643148480514?s&#61;20" rel="noopener noreferrer nofollow">weighed in</a> on this matter, pointing out a critical threshold the global <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">crypto market</a> cap must recover to avoid further slumps.<blockquote>– van the Poppe wrote in a tweet.“Mayday, mayday. Total market capitalization is beneath the 200-Week MA and EMA. Needs to get back above $1.04T during this week to avoid further downwards momentum for Crypto.”</blockquote><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/1c9b2e85b6934f9e8691975d29891330.jpg" />Crypto market cap 200-WMA and EMA. Source: Michaël van de PoppeMarket analysts regularly monitor the 200-week moving average (<a href="https://finbold.com/guide/moving-average/#:~:text&#61;Moving%20average%20definition,%2Dto%2Dday%20price%20fluctuations." rel="noopener noreferrer nofollow">MA</a>) and exponential moving average (EMA) levels due to their significance in assessing long-term trends and market sentiment.The 200-week MA is a long-term indicator that smoothes out price fluctuations over a span of approximately four years, providing a clear view of the overall trend. Crossing above or below the 200-week MA can signal a major shift in market direction, influencing investor sentiment and triggering significant buying or selling activity.<h2 id="header-0">Global crypto market cap analysis</h2>At press time, the global crypto market cap slightly stood at $1.02 trillion, seeing a slight recovery of 0.24% in the past 24 hours. Over the past week, the markets lost 7.32%, or $52 billion.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/5ec3ab782a474253955ca4f9869fd022.jpg" />Crypto market cap 1-week chart. Source: TradingViewAs can be noticed from the chart, the sharpest decline occurred on June 10, a day after stock brokerage Robinhood <a href="https://finbold.com/robinhood-to-delist-cardano-solana-polygon-heres-when-support-will-end/" rel="noopener noreferrer nofollow">announced</a> it would delist Solana (<a href="https://finbold.com/cryptocurrency/solana/" rel="noopener noreferrer nofollow">SOL</a>), Cardano (<a href="https://finbold.com/cryptocurrency/cardano/" rel="noopener noreferrer nofollow">ADA</a>), and Polygon (<a href="https://finbold.com/cryptocurrency/polygon/" rel="noopener noreferrer nofollow">MATIC</a>) from its online trading platform, due to “a cloud of uncertainty around these assets” amid the SEC crackdown.Those three altcoins <a href="https://finbold.com/why-is-ada-sol-matic-price-crashing-today/" rel="noopener noreferrer nofollow">witnessed</a> particular selling pressure in the past 7 days, plummeting 27.8%, 23.6%, and 27%, respectively.Meanwhile, last week, the securities regulators <a href="https://finbold.com/coinbase-sued-by-sec-in-new-york-federal-court/" rel="noopener noreferrer nofollow">filed</a> lawsuits against the world’s two biggest crypto exchanges, <a href="https://finbold.com/review/binance-review/" rel="noopener noreferrer nofollow">Binance</a> and <a href="https://finbold.com/review/coinbase-review/#:~:text&#61;Today%2C%20Coinbase%20is%20thriving.,2021%2C%20according%20to%20Finbold%20analysts." rel="noopener noreferrer nofollow">Coinbase</a>, citing a breach of federal securities laws, commingling of investor funds, and listings of unregistered crypto asset securities, among other accusations.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finold.com</a>.

Crypto market cap on the brink of catastrophic crash below $1 trillion

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