Bitcoin (BTC) Moves Under $3,500 In Downtrend, Despite Crypto “Tailwinds”

Crypto Market Establishes YTD Low: Bitcoin At $3,650, Ethereum Hits Double-Digits

In the past day, bears haven’t abated their rampage, continuing to incessantly place straws on the back of the crypto camel. Bitcoin (BTC), for instance, continued its tumult, stumbling under $3,500. Altcoins, as always, followed suit, sending the aggregate value of all cryptocurrencies below $120 billion. At the time of press, this market’s circulating capitalization has fallen to $113 billion to near, if not establish a new year-to-date low.

With cryptocurrencies falling lower, losing an average of 8% across the board, 24-hour volumes have also seen a slight resurgence, moving to $16.5 billion (~$8.3 billion adjusted), compared to the $14 billion seen in Ethereum World News’ previous market update.

Now, let’s talk about BTC.

After moving under $3,800 on Wednesday, the industry’s household asset found itself above the aforementioned price level for a number of hours, failing to…