Major cryptos suffered significant losses on Thursday

Major cryptos suffered significant losses on Thursday

Bitcoin dropped down by 6.33% on Thursday, ending the day at $9,272.2. After a bullish start of the day, Bitcoin jumped to an early morning intraday high of $9,972.8 before reversing course. The crypto fell short of the first major resistance level at $10,053.33 and tumbled down to a late afternoon intraday low of $9,084.0.

After pulling back, Bitcoin slid through the day’s major support levels. However, it managed to find support from the broader market. Thanks to a partial recovery to levels around $9,270, the crypto moved back through the third major support level at $9,156.67.

On Friday, Bitcoin surged forward by 0.61% to $9,328.6. After a mixed start of the day, it plummeted down to an early morning low of $9,246.0 before hitting a high of $9,330.0. The crypto left the major support and resistance levels untested so far.

Bitcoin’s dominance struck a current week high of 66.36% and a low of 65.70% in Thursday’s sell-off. On Friday, Bitcoin’s dominance stood at 66.15%.

What about other cryptocurrencies? 

The rest of the major cryptos traded on bearish territory on Thursday. Stellar’s Lumen, Tron’s TRX, and Cardano’s ADA suffered the highest losses, collapsing by 10.45%, 10.42%, and 10.36%. Tezos also plunged by 9.73%.

Several other digital coins weren’t far behind. Monero’s XMR plummeted down by 8.86%, as did EOS. Meanwhile, Bitcoin Cash ABC tumbled down by 8.68%, and Litecoin shaved off 7.54%.

Ripple’s XRP also dropped by 7.44%, while Bitcoin Cash SV and Ethereum plunged by 7.38% and 7.22%, respectively, with Binance Coin losing 6.84%.

On Friday, the crypto market recovered, trading in the green. Tezos soared by 2.33%, leading the way. Binance Coin also gained 1.29%, and Cardano’s ADA brew by 1.13%.

During the current week, the crypto total market cap had rebounded from a Tuesday low of $265.84bn. The market cap hit a Wednesday high of $278.33bn before dropping to a current week low of $252.82bn. On Friday, the total market cap stood at $259.01bn.

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