​​$70 billion leaves crypto market in a day as Bitcoin fails t | Global CRYPTO News

​​$70 billion leaves crypto market in a day as Bitcoin fails to sustain bullish momentum

Consequently, the selling pressure is witnessed in assets like Bitcoin (BTC), which has corrected while facing a battle to hold its price above $20,000. Indeed, as of August 19, the total global crypto market capitalisation stood at $1.05 trillion, dropping by $70 billion in the last 24 hours from the $1.12 trillion it stood at just a day earlier, according to CoinMarketCap data.

Cryptocurrency trading expert Michaël van de Poppe has acknowledged that current market capitalisation faced rejection is at a critical resistance level. In a tweet posted on August 19, Poppe noted that the market would likely rally if the capital breaks above $1.2 trillion. Notably, Bitcoin has been on a short-term rally attempting to sustain gains above $25,000. The asset has, however, lost momentum, plunging by almost 7% in the 24 hours. By press time, the flagship cryptocurrency was trading at $21,800.