Perpetual
Any dip buyers left? Bulls are largely absent as the total crypto market cap drops to $1.65T
The total crypto market capitalization has been trading within a descending channel for 24 days and the $1.65 trillion support was retested on May 6. The drop to $1.65 trillion was followed by Bitcoin (BTC) reaching $35,550, its lowest price in 70 days. Total crypto market cap, USD billion. Source: TradingView In terms of performance, the aggregate market capitalization of all cryptocurrencies dropped 6% over the past seven days, but this modest correction in the overall market does not represent some mid-capitalization altcoins, which managed to lose 19% or more in the same time frame. As expected, altcoins suffered the most In the last seven days, Bitcoin price dropped 6% and Ether (ETH) declined by 3.5%. Meanwhile, altcoins experienced what can only be described as a bloodbath. Below ar...
Data suggests traders view $46,000 as Bitcoin’s final line in the sand
Dec. 13 will likely be remembered as a “bloody Monday” after Bitcoin (BTC) price lost the $47,000 support, and altcoin prices dropped by as much as 25% within a matter of moments. When the move occurred, analysts quickly reasoned that Bitcoin’s 8.5% correction was directly connected to the Federal Open Market Committee (FOMC) meeting, which starts on Dec. 15. Investors are afraid that the Federal Reserve will eventually start tapering, which simply put, is a reduction of the Federal Reserve’s bond repurchasing program. The logic is that a revision of the current monetary policy would negatively impact riskier assets. While there’s no way to ascertain such a hypothesis, Bitcoin had a 67% year-to-date gain until Dec. 12. Therefore, it makes sense for investors to pocket those profits a...
NAF reaffirms commitment to safeguarding nation’s territorial integrity
Wikipedia The Chief of Air Staff (CAS), Air Marshal Sadique Abubakar, has reaffirmed the commitment of the Nigerian Air Force (NAF) to safeguarding the territorial integrity of the country. Abubakar made the commitment in Gombe on Monday, at the ground breaking ceremony of 203 Combat Reconnaissance Group of the NAF, Sanni Abacha International Airport, Gombe. According to hm, the newly established group is strategically located in Gombe State to enable NAF to carry out its responsibilities more effectively, especially in the North-East. He said the group was also expected to add more value to organisational operations in the fight against insurgency and other security challenges in the zone and the country at large. “The group also marks another milestone in the service efforts to mark its ...
