The price of bitcoin briefly dropped below $ 10,000. The Altcoins followed it

On the night of July 15, the price of the first cryptocurrency dropped below an important psychological mark of $ 10,000, but the sellers did not manage to gain a foothold there. At the time of writing, Bitcoin is trading at around $ 10,100.

BTC / USD , TradingView data

According to the data of Bitwise Asset Management , the total daily trading volume in Bitcoin amounted to $ 2.47 billion. It is worth noting that the company takes into account data from only 10 trusted sites that were not found to be in falsification of trading volumes.

Note that the index of dominance of Bitcoin, despite the overall downward trend, continues to grow (65.8%). The capitalization of altcoins, like their cost, falls much faster. In the top ten, Bitcoin SV, Bitcoin Cash and Ethereum demonstrated the worst dynamics.

CoinMarketCap data

Meanwhile, CEO Binance Changphen Zhao, in an interview with Bloomberg, predicted a broader acceptance of marginal instruments and increased volatility amid high trading volumes. At the same time, he said that the recent rally of the first cryptocurrency was provided by retail investors, and not by institutionalists, despite the noticeable activity of the latter.

Somewhat different opinion was expressed by analysts of The Block, who analyzed the traffic of Bitcoin exchanges and search queries for keywords in June, but did not find a significant increase in comparison with May. This, in their opinion, can speak in favor of the fact that large traders who mainly trade on OTC platforms and through the API played a significant role in the growth of Bitcoin.

5 / BTC’s 68% since February. However, in June, when the price jumped from $ 7.6k to more than $ 13.5k (~ 78% increase), web traffic stayed on May pic.twitter.com/UP5nDjAxiZ

– Larry Cermak (@lawmaster) July 11, 2019

Recall, according to analyst Omkar Godboul, a fall below $ 9,614 (at least July 2) will signal a change in trend.

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