Bitcoin, Ethereum and Dogecoin drop more than 5% after cryptocurrency market cap plunges 5.2%
Its shares fell more than 5% after the global cryptocurrency market cap plummeted 5.2% to $1.2 trillion.
Apex coin was trading down 5.2% at $29,370.08, ETH was down 6.9% at $1,734.24 and DOGE was down 5.2% at $0.08.
This sharp pullback was accompanied by a surge in trading volume, which surged 74.1% to $35.4 billion in 24 hours. ETH’s 24-hour volume rose 94.4% to $19.94 billion, while DOGE’s volume rose 78.9% to $567.15 million.
The cryptocurrency followed the downward trajectory of stock futures on Monday night. At press time, S&P 500 and Nasdaq futures were down 0.6% and 0.75%, respectively.
GlobalBlock analyst Marcus Sotiriou noted on Monday that Bitcoin faces “significant resistance” near $31,500 and $32,000.