Early on April 24, cryptocurrencies traded in a mixed bag. The worldwide crypto market capitalization is $1.84 trillion, down 0.18 percent from the previous day. The overall crypto market volume over the last 24 hours has decreased by 32.85% to $54.17 billion.
Total DeFi volume is currently $7.42 billion, which represents 13.70% of the overall 24-hour volume in the crypto market.
The overall volume of all stable coins is now $43.58 billion, accounting for 80.45% of the total 24-hour volume of the crypto market.
The Bitcoin price is currently at Rs 31.70 lakh, with a market share of 40.91%. According to data from CoinMarketCap, this is an increase of 0.12% from the previous day.
Crypto market to crash?
Raoul Pal, a former Goldman Sachs executive, believes that the stock market’s potential decline could harm crypto values in the coming months.
Pal tells his 925,800 Twitter followers that he is watching the Nasdaq and believes that, based on technical analysis, the index is poised to decline if key support is broken.
Pal does not believe that fresh lows are imminent for crypto markets, but he does believe that present macro factors indicate that a huge correction is on the way, which might bring digital assets down with it.
He said seeing all energy stocks, oil commodities and other commodities in the red increases the likelihood of a full “correlation” of amplified panic.
The dollar and perhaps bonds would be the only places to hide (because everyone is short), and crypto would get caught up too (not new lows).
Boyfriend predicted that if the crypto enters a correction phase, there will be more noise in an overall market structure, according to a new interview with Real Vision.
He says that he searching for a negative to layer into places of whatever he want to get into. Obviously, crypto will be affected by this and likely fall in value, but he think we’re all used to that at this point.
He doesn’t think it’s removing the bass, so he just thinks it’s adding to the noise, and we’re still in that sloppy range we’ve been in for a year and a half.
