Double-Digits Losses Are The Order Of The Day As Bitcoin Declines To $20,000

Name	Symbol	Market	Market Cap ($)	Algorithm
Celsius	CELUSD	Crypto	78,713,031	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Celsius

CELUSD

Crypto

78,713,031

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	0.1859	0.12735	0.250

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

0.1859

0.12735

0.250

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.1859	0.1859	0.1859	0.1859	0.062920 - 0.369990

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.1859

0.062920 - 0.369990

Exchange	Last Trade	Size	Trade Price	Currency
GATE	12:03:44	7.71	0.1859	USD

Exchange

Last Trade

Size

Trade Price

Currency

GATE

12:03:44

7.71

0.1859

USD

Price x Volume	Volume	Base Symbol	Related Pairs
0.00000000	0.00000000	CEL	CELEUR	CELGBP	CELBTC

Price x Volume

Volume

Base Symbol

Related Pairs

0.00000000

Double-Digits Losses Are The Order Of The Day As Bitcoin Declines To $20,000

16/06/2022 12:00am

NEWSBTC

The crypto market crash has sent Bitcoin spiraling to $20,000. The pioneer cryptocurrency has in turn taken the market down with it, triggering massive losses. All digital assets in the market have not been left out of the onslaught. Regardless of their market cap, cryptocurrencies have all recorded massive losses that have translated to double-digit losses across all indexes. Not A Respecter Of Market Caps All of the indexes have been hit hard by the crypto market crash. Even the bitcoin index that had been putting up the most fight has succumbed to it. The market-wide collapse has seen the total market cap drop below $1 trillion for the first time in less than a year. Almost all cryptocurrencies have been following the same downtrend, one that is created by the market leader, Bitcoin. Nevertheless, bitcoin has continued to put up a good fight. This has seen the digital asset return once more as the best performer, with a -29% loss so far in the month of June. But this ‘safe haven’ that investors have been running to for cover is barely holding above the losses posted by the other indexes. Related Reading | Shiba Inu (SHIB) Profitability Plunges To Hell As Bloodbath Continues True to form, the Large Cap Index has mostly followed the performance of Bitcoin. Through bear markets, they have been better performers compared to their smaller counterparts and this holds true as the Large Cap Index has seen a -32% loss. The Mid Cap Index followed the Large Cap Index very closely, with losses matching up at -32%. Once again, the Small Cap Index leads the pack in terms of losses with -33% in losses so far in the first half of the month. Indexes suffer massive losses | Source: Arcane Research Crypto Market Struggles The struggles of the crypto market are not just beginning. It started back towards the end of 2021 when the momentum from the bull rallies had eventually peaked. However, there have been other events that have triggered more decline in the market. Related Reading | More Than 253,000 Traders Liquidated As Crypto Bloodbath Continues The Terra collapse had kickstarted the bear run in full bloom. This was further propelled by the Celsius insolvency rumors after the lending platform had frozen withdrawals. Since the December 4th crash, more than $2 trillion has been wiped off the crypto market cap. BTC trending at $21,000 | Source: BTCUSD on TradingView.com All of the losses that are being incurred by the digital assets, whose correlations with bitcoin continue to rise, are supposedly being eaten up by the stablecoins as their market caps have grown. Their market share has since increased by more than 5% since the crash began. Investor sentiment is now sitting at its lowest in the last three years. With the Fear & Greed Index reading in extreme fear with a score of 7, it suggests that investors are not looking to put any money into the market. Featured image from Euronews, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

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CELUSD Celsius