Bitcoin Price and Ethereum Down 5% amid China Lockdown - Time to Buy?
The leading cryptocurrency, Bitcoin, failed to break a descending triangle pattern and fell over 3% to $16,160 amid an increased level of FUD in the market.
Likewise, the second-most valuable cryptocurrency, Ethereum, has followed Bitcoin's lead and fallen sharply by nearly 5% to $1,171.
The global crypto market cap fell over 2% to $815.32 billion the previous day, sending major cryptocurrencies into the red early November 28. Over the last 24 hours, overall crypto market volume grew by 22.10% to $41.69 billion.
DeFi's total volume is currently $2.60 billion, accounting for 6% of the overall crypto market 24-hour volume. The overall volume of all stablecoins is now $38.85 billion, accounting for 93% of the total 24-hour volume of the crypto market.
Let's take a look at the top 24-hour altcoin gainers and losers.
Celo (CELO), Apecoin (APE), and UNUS SED LEO (LEO) are three of the top 100 coins that have gained value in the last 24 hours. The CELO price has soared by more than 34% to $0.6970, the APE price has grown by more than 13.5% to $3.70, and the LEO price has increased by nearly 7%.
Aptos (APT), Trust Wallet Token (TWT), and Lido DAO (LDO) are three of the top 100 coins that have lost value in the last 24 hours, where APT has lost over 5.5% to trade at $4.65, TWT is down 4% to trade at $2. At the same time, LDO's price is down over 3% to trade at $1.09.
Cryptocurrencies slumped Monday amid a round of investor nervousness in global markets spurred by protests in China against Covid restrictions. Protesters outraged by harsh COVID-19 regulations called for China's strong leader to quit.
This was a rare rebuke as officials in at least eight cities attempted to repress demonstrations Sunday that constituted a direct threat to
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