Crypto Price on February 20: Bitcoin drops below $52,000 level; Internet Computer, Solana shed up to 4%
Dogecoin, Tron, Polkadot, Toncoin, and Shiba Inu were trading in the green.
At 12:25 p.m., Bitcoin was trading 0.9% lower at $51,926, while Ethereum was up 0.34% at $2,931. Meanwhile, the global cryptocurrency market cap fell 0.1% to around $1.98 trillion in the last 24 hours.
«Following a test of the $52,000 resistance, Bitcoin is currently consolidating around $51,700 as market participants booking profits. The immediate resistance stands at $52,200, while failure to surpass it could see support at the $51,300 level,» said Edul Patel, CEO of Mudrex.
Meanwhile, Vikram Subburaj, CEO of Giottus, said, «Bitcoin is consolidating below $52,000 after encountering resistance at that level. A quick rally towards $53,000 is possible this week as market makers look to invalidate sizable shorts in the market. Wider stock market sentiment may affect crypto this week including NVIDIA's much anticipated quarterly report.»
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View Details»Among top altcoins, Solana, Avalanche, Internet Computer, and Chainlink were the top losers, falling 1-4%.
The total volume in DeFi is currently $6.59 billion, 9.38% of the total crypto market 24-hour volume. The volume of all stablecoins is now $62.94 billion, which is 89.63% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.
In the last 24 hours, the market cap of Bitcoin, the
