2022 – Market selling may slow, but traders stand on the sidelines until BTC confirms $2022 support Cointelegraph

Market selling may subside but traders remain on the sidelines until BTC confirms $20,000 as support

The total cryptocurrency market cap fell off a cliff between June 10 and 13, dropping below $1 trillion for the first time since January 2021. (Bitcoin(Down 28% in a week and ether)ETH) I experienced a painful correction of 34.5%.

Total cryptocurrency market cap, $1 billion. Source: TradingView

Currently, the total capitalization of the cryptocurrency is $890 million, which is a negative 24.5% performance since June 10. This definitely raises the question of how the two largest crypto-assets are able to outperform the rest. The answer lies in the $154 billion stablecoin that distorts the overall market performance.

Indicator of fear and greed in cryptocurrency. Source: the alternative
Weekly winners and losers among the top 80 coins. Source: Nomix
(USDT) Peer to Peer vs Source: OKX
Cumulative funding rate for perpetual futures on June 17. Source: Coinglass

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