2 metrics signal the $1.1T crypto market cap resistance will hold By Cointelegraph

2 metrics signal the $1.1T crypto market cap resistance will hold

Cryptocurrency Aug 06, 2022 04:00PM ET

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2 metrics signal the $1.1T crypto market cap resistance will hold

Cryptocurrencies have failed to break the $1.1 trillion market capitalization resistance, which has been holding strong for the past 54 days. The two leading coins held back the market as Bitcoin (BTC) lost 2.5% and Ether (ETH) retraced 1% over the past seven days, but a handful of altcoins presented a robust rally.

Crypto markets’ aggregate capitalization declined 1% to $1.07 trillion between July 29 and Aug. 5. The market was negatively impacted by reports on Aug. 4 that the U.S. Securities and Exchange Commission (SEC) is investigating every U.S. crypto exchange after the regulator charged a former Coinbase (NASDAQ:COIN) employee with insider trading.

Total crypto market cap, USD billions. Source: TradingView

Weekly winners and losers among the top-80 coins. Source: Nomics

Tether (USDT) peer-to-peer vs. USD/CNY. Source: OKX

Accumulated perpetual futures funding rate on Aug. 5. Source: Coinglass

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US 30	33,541.4	+204.7	+0.61%
US 500	4,242.6	+35.3	+0.84%
Dow Jones	33,542.48	+205.81	+0.62%
S&P 500	4,242.50	+35.23	+0.84%
Nasdaq	12,921.74	+141.83	+1.11%
S&P 500 VIX	19.21	-0.99	-4.90%
Dollar Index	105.615	+0.621	+0.59%

Crude Oil WTI	92.58	-1.76	-1.87%
Brent Oil	98.18	-1.42	-1.43%
Natural Gas	8.870	-0.004	-0.05%
Gold	1,811.00	+3.80	+0.21%
Silver	20.503	+0.154	+0.76%
Copper	3.6573	-0.0492	-1.33%
US Soybeans	1,434.50	-13.50	-0.93%

SPDR S&P 500	423.44	+3.45	+0.82%
iShares Russell 2000	198.90	+2.55	+1.30%
Invesco QQQ Trust	327.49	+3.41	+1.05%
Direxion Daily Junior Gold Miners Bull 2X Shares	37.73	+1.52	+4.20%
iShares Silver	18.94	+0.27	+1.42%
ProShares Ultra VIX Short-Term Futures	8.91	-0.35	-3.78%
ProShares UltraPro QQQ	37.03	+1.09	+3.02%

Apple	170.96	+2.47	+1.47%
Alphabet A	119.93	+1.09	+0.92%
Tesla	879.59	+19.70	+2.29%
Amazon.com	140.88	+0.24	+0.17%
Netflix	244.69	+1.99	+0.82%
Meta Platforms	179.97	+2.48	+1.40%
Bank of America	35.98	+0.07	+0.18%

2 metrics signal the $1.1T crypto market cap resistance will hold

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