Cryptocurrencies continue to retreat amid increasing pressure on risky assets. Bitcoin fell to $28,943 this morning, over the past 24 hours, its capitalization has decreased by 4% to $551.376 billion.
Ether (ETH) and Binance Coin (BNB) dropped over 6% to $1,780 and $298, respectively.
Solana (SOL) and Polkadot (DOT) were the most affected as a result of the next reset of cryptocurrencies. These altcoins lost about 9% in value and fell to $41.45 and $8.92. The capitalization of the crypto market has decreased to $1.201 trillion.
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Data from the Santiment team shows that whales holding between 100 and 1,000 bitcoins have been active over the past few months. They buy BTC after every correction.
As a result, as a result of spring sales, the number of whale wallets with a balance of 100 to 1,000 coins increased by another 134 to 13,737, the researchers found.
Josh Olszewicz, head of research at Valkyrie Investments, believes that the bears will retain control of the market in the coming weeks. Macroeconomic factors are pushing capital to exit digital currencies. However, a stampede is unlikely, and most likely, we are in for stagnation and trading in a narrow range.