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2 key metrics point toward further downside for the entire crypto market

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2 key metrics point toward further downside for the entire crypto market 2 key metrics point toward further downside for the entire crypto market

The total crypto market capitalization has been holding a slightly ascending trend for the past three months, and the $1.75 trillion support was most recently tested on April 27 as (BTC) bounced at $38,000 and Ether (ETH) at $2,800 on April 27.

Total crypto market cap, USD billion. Source: TradingView

The crypto market’s aggregate capitalization showed a 3.5% decrease in the last seven days. Meanwhile, notable losers were an 18.8% loss from (XRP), a 10.2% loss from (ADA) and a 9.7% drop in (DOT) price.

Weekly winners and losers among the top 80 coins. Source: Nomics
(USDT) peer-to-peer vs. . Source: OKX
Accumulated 7-day perpetual futures funding rate on April 29. Source: Coinglass

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