The cryptocurrency market led by Bitcoin (BTC) and Ethereum (ETH) has bled profusely in the past 24 hours, with over $323 million liquidated from over 98k traders. According to the latest cryptocurrency price oracles, the total crypto market capitalization has dropped by approximately 7.4 percent to stand at $965 billion on Friday.
The Bitcoin weekly death cross is proving to be a solid psychological resistance despite the new year’s bullish sentiments. With Bitcoin looking to close the third consecutive week on a bearish thesis, the altcoin industry faces more sell pressure in the coming weeks.
As the cryptocurrency market continued to dip during the early London trading session, on-chain analysts have identified increased whale activity in the past 24 hours. According to Lookonchain, a whale dumped about $60 million worth of Bitcoin and Ethereum before the market fell earlier today.
Source: https://coinpedia.org/altcoin/as-crypto-market-experiences-losses-whale-activity-surges-in-altcoins/