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Any dip buyers left? Bulls are largely absent as the total crypto market cap drops to $1.65T -Breaking


Any dip buyers left? The total cryptocurrency market cap has dropped to $1.65T and bulls are not present.

Since April 24, the crypto market capitalization total has traded within a down channel. On May 6, however, $1.65 Trillion support was tested. Following the drop to $1.65 billion, (BTC35,550 is its lowest price for the past 70 days.

Market cap total for crypto, US$ billion TradingView

Performance-wise, all crypto market capitalizations fell by 6% during the last seven days. But this slight correction is not indicative of any mid-capitalization altcoins which suffered a 19% loss in the same time period.

Weekly winners and losers from the top 80 coins Source: Nomics
(USDT) peer-to-peer vs. . Source: OKX
Current 7-day permant futures funding rate Source: Coinglass