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3 key metrics suggest Bitcoin and the wider crypto market have further to fall

Cryptocurrency 11 minutes ago (Jul 12, 2022 04:00PM ET)

3 key metrics suggest Bitcoin and the wider crypto market have further to fall 3 key metrics suggest Bitcoin and the wider crypto market have further to fall

The total crypto market capitalization has fluctuated in a 17% range in the $840 billion to $980 billion zone for the past 28 days. The price movement is relatively tight considering the extreme uncertainties surrounding the recent market sell-off catalysts and the controversy surrounding Three Arrows Capital.

Total crypto market cap, USD billion. Source: TradingView

From July 4 to 11, (BTC) gained a modest 1.8% while Ether (ETH) price stood flat. More importantly, the total crypto market is down 50% in just three months, which means traders are giving higher odds of the descending triangle formation breaking below its $840 billion support.

Crypto Fear & Greed Index. Source: Alternative.me
Weekly winners and losers among the top 80 coins. Source: Nomics
(USDT) peer-to-peer vs. . Source: OKX
Accumulated perpetual futures funding rate on July 11. Source: Coinglass

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