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: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
  • 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: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

Not a Dump: Crypto Market Loses $15 Billion in a Day as Bitcoin Slips

Davit Babayan
Davit Babayan
1 year ago
2 mins read

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.

Global crypto assets trended in a red zone this Thursday, with the CoinMarketCap chart noting an 8.11 percent drop as bitcoin slipped.

Bitcoin Leads the Corrective Sentiment

Bitcoin, the most dominant asset across the global cryptocurrency index, plunged 4.24 percent in what appeared like a technical correction. The cryptocurrency on April 2 had undergone a surprising bullish makeover, jumping more than 23 percent in just two hours. The upside move pushed its trading sentiment into the overbought zone, which typically makes a profitable exit position for day traders. (Read our NewsBTC coverage here for more insights on bitcoin price.)

Global Cryptocurrency Market Valuation Plunges 8.11 Percent | Source: CMC

The rest of the cryptocurrency market, known for tailing the bitcoin trend, stuck to following it during today’s trading session. The second-most dominant Ethereum posted an aggressive 9 percent drop while XRP, the third-largest crypto, noted a 7 percent decline. Super bullish EOS, Litecoin and Bitcoin Cash also toppled in a range of 10-14 percent.

The only exception came in the name of Crypto.com Chain. The blockchain project appreciated in valuation despite the session’s bearish sentiment, noting a 14-percent surge in the past 24-hours.

What Kicked the Crypto Market?

Developments inside the cryptocurrency market were not adequately influencing to drive it lower. However, mainstream finance witnessed some major updates which may have indirectly influenced the market participants in the crypto space. At first, the Federal Reserve released its minutes which revealed that the policymakers were putting a pause on interest rate hikes in 2019 due to increasing economic uneasiness between the US and other global economies. However, some FOMC members didn’t avert the possibility of a rate increase at the end of 2019.

David Madden, a market analyst at CMC Markets UK, said in a daily research note:

“The minutes last night showed that some policymakers would be keen to hike rates should the economy improve, and that took some traders by surprise as they thought a rate hike in 2019 was off the table. In a way, it was typical of the Fed to give themselves some wiggle room.”

The Fed’s minutes revelation didn’t exactly affect the stock market performance, but it certainly delivered unclear catalysts for equity investors. If anybody among those hold cryptocurrencies in their portfolio, their supersonic weekly gains might have been enough to balance-off their risks in the mainstream markets. There is a possibility that the vast crypto correction today appeared because of that.

Not a Dump

The crypto correction nevertheless is not a dump since the principal assets are still trading above their crucial supports. Cryptocurrency analyst Alex Krüger stressed that a downside bitcoin move was likely to bounce back from certain support levels, which included a daily moving average indicator.

“Coinbase high was $5489,” he tweeted. “Don’t expect a pullback to $4000. Too deep. Support: 5000, 4780-4680, 4550 (200DMA), 4400, 4200. Resistance: 5350, 5500, 5750 (weak), 6000, 6400.”

Base case scenario:

– Up. FOMO. 5500 (5000 too close).
– Then down. 4000 feasible, see latecomers fold.
– Then chop in the gap, form a new range
– Sustained bull resumption afterwards

Analysts still waiting for 1500 or 1800 likely won't be selling many books.

— Alex Krüger (@krugermacro) April 2, 2019

Tweet123Share306ShareSend
Davit Babayan
Davit Babayan

Davit Babayan

Davit Babayan is an Armenia-based expat balancing the academic life of a software design engineer with the experiences of a financial technology journalist. He aspires to be a full-time columnist and wants to write a book that would be called, "A Homeless Who Found Bitcoin."

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

Dogecoin stijgt ondanks ETF uitstel – institutionele vraag groeit exponentieel

Dogecoin stijgt ondanks ETF uitstel – institutionele vraag groeit exponentieel

Het enthousiasme rondom Dogecoin lijkt groter dan ooit. Institutionele investeerders lijken massaal te willen investeren in deze meme coin en...

Lars Diederiksen 4 hours ago
Solana

Solana (SOL) Bulls Complete Bullish Breakout — Eye $360 Mid-Term Target

Solana (SOL) has emerged as a major headliner following an impressive 20.89% gain over the last week. Solana’s price now...

Semilore Faleti 5 hours ago
Dogecoin

Dogecoin Hits Multi-Month High, Veteran Trader Says It’s A Critical Progress

According to veteran trader Peter Brandt, Dogecoin’s price has pushed back above the $0.3 mark, a level that traders watched...

Christian Encila 7 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

xrp-flambee-marche-crypto

XRP et flambée du marché crypto : que faire les prochaines semaines ?

guillaumev 25 minutes ago
solana-depasse-bnb-capitalisation-record-sol

Solana dépasse à nouveau BNB : vers une capitalisation record pour SOL ?

guillaumev 56 minutes ago
Ethereum

Ethereum’s MVRV Hits 1.97 — Can Bulls Hold Their Ground?

Semilore Faleti 1 hour ago

Premium Sponsors

Press Releases

  • 仮想通貨投資の専門家が推す有望銘柄 ― XRP・カルダノ以上の期待

    仮想通貨投資の専門家が推す有望銘柄 ―...

    18 minutes ago
  • 注目のico仮想通貨が100万ドル調達 ― マイン・トゥ・アーン型ミームコインの可能性

    注目のico仮想通貨が100万ドル調達 ―...

    18 minutes ago
  • イーサリアム 今後の価格予測:機関投資と長期需要で2025年に9,000ドル到達の可能性

    イーサリアム...

    20 minutes ago
  • ビットコイン 今後の価格予測:インフレ上昇の中で利下げ期待強まり、11万5,000ドル付近で推移

    ビットコイン...

    20 minutes ago
  • シバコイン 今後はどうなる? レジスタンス突破の可能性を探る

    シバコイン 今後はどうなる?...

    20 minutes 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.