NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: SoftBank, Ark Invest Among Potential Investors In Tether's $15 Billion Funding Round
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: SoftBank, Ark Invest Among Potential Investors In Tether's $15 Billion Funding Round

Crypto Markets Shed Nearly 20 Billion as Bitcoin and Major Altcoins Plunge

Cole Petersen
Cole Petersen
6 years ago
2 mins read
Bitcoin BTC

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The crypto markets have followed Bitcoin’s lead and spiraled downwards over the past day, with many major altcoins facing significant levels of selling pressure that have sent most of them down 5% or more.

Today’s drop has led the crypto markets to shed nearly $20 billion from its weekly highs, sending the overall crypto market cap from seven-day highs of $187 billion to its current levels of $170 billion.

Bitcoin Leads Crypto Markets to Drop 

The recent drop in the markets was first brought about yesterday after Bitcoin quickly surged to highs of $5,400, at which point the cryptocurrency faced a significant amount of selling pressure that sent it reeling down to its current price levels of roughly $5,050.

Bitcoin’s descent – which sparked today’s market drop – has altered the technical strength of the aggregated crypto markets, which were incurring growing bullish momentum over the past several days and weeks.

Now, analysts believe that Bitcoin could drop as low as $4,200 in the near-future, which would undoubtedly lead major alts to surrender an even larger portion of their recent gains.

The Cryptomist, a popular cryptocurrency trader on Twitter, spoke about the possibility of a further retrace in a recent tweet, explaining that she believes BTC could fall to as low as $4,200 before it finds a significant amount of support.

“$BTC There is the start of the drop I have been saying. RSI channel MUST break. Evaluating the RSI again, I do believe we could go low as $4390 (.5 fib) $4.2 (.618 fib) level. I’d be surprised if we go lower (will re-evaluate when levels reached.) 48 & 39 RSI I’m watching,” she explained.

$BTC

There is the start of the drop I have been saying 🙂

RSI channel MUST break. Evaluating the RSI again, I do believe we could go low as
$4390 (.5 fib)
$4.2 (.618 fib) level
I'd be surprised if we go lower (will re-evaluate when levels reached)

48 & 39 RSI Im watching 🙂 pic.twitter.com/YJNCIcNmt9

— The Cryptomist (@Thecryptomist) April 11, 2019

It is important to note that today’s sell-off has been perpetuated by an increase in trading volume, which has climbed to over $63 billion from its weekly lows of $48 billion.

Most Major Altcoins Drop Nearly 10% 

Bitcoin’s drop has led most major cryptocurrencies to spiral downwards today, with many dropping nearly 10%.

At the time of writing, Ethereum is trading down just under 9% at its current price of $165, down from its daily highs of $183. Although today’s drop is negative, it is important to remember that ETH is still up significantly from its monthly lows of $130.

XRP has also dropped today and is trading down nearly 8% at its current price of $0.33. This drop has led XRP back towards its monthly lows of approximately $0.30.

Litecoin has been one of the worst performing altcoins today, as it has dropped over 11% to its current price of $78.90. Today’s plunge has led Litecoin to set a fresh weekly low around its current price levels.

The general crypto markets will be closely tracking Bitcoin’s price action over the next few days, and whether or not BTC is able to hold above $5,000 will likely signal whether the bulls are able to maintain the market’s recent upwards momentum.

Featured image from Shutterstock.
Tweet123Share196ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Qatar

Qatar’s Biggest Bank Joins JPMorgan’s Blockchain Payment Network

Qatar National Bank (QNB) has started using JPMorgan’s Kinexys payments platform for US dollar corporate flows, bringing on-chain settlement to...

Christian Encila 4 hours ago
Bitcoin news

Will October Crown Bitcoin Or Break It? Key Levels In Play

Bitcoin enters the final day of the quarter in a tight coil of technicals and macro catalysts, with traders fixated...

Jake Simmons 5 hours ago
Dogecoin

Analyst Forecasts Dogecoin Price To See Face-Melting Rally: The Bullish Pattern That Suggests New Highs

The Dogecoin price may be preparing for what an analyst calls a “face-melting rally,” as fresh bullish technical patterns indicate...

Scott Matherson 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Cardano Whale

Cardano Whale Makes $54 Million Coinbase Outflow: Sign Of Dip Buying?

Keshav Verma 39 minutes ago
XRP

XRP Gears Up For Breakout, But Bearish Divergence Clouds Outlook

Godspower Owie 2 hours ago
Dogecoin

Analyst Says Dogecoin’s Parabolic Run Is Inevitable – Historical Pattern Point To Another Breakout

Scott Matherson 3 hours ago

Premium Sponsors

Press Releases

  • Grok が示す ドージコイン 今後 の行方:マスク主導のラリーと Maxi Doge の可能性

    Grok が示す ドージコイン 今後...

    9 hours ago
  • リップル 今後の価格予測:3ドル抵抗線が迫る三角ブレイクの行方

    リップル...

    9 hours ago
  • ビットコインが114,000ドル回復:今注目すべき仮想通貨プレセール

    ...

    10 hours ago
  • ビットコインが11万4,000ドルに回復:Geminiが選ぶ仮想通貨おすすめ銘柄

    ...

    10 hours ago
  • 新しい仮想通貨のプリセールが急上昇、大口投資家が1日で32.9万ドル購入

    ...

    10 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.