Market Outlook: Crypto Prices Hold Steady but Face a Crucial Turning Point

After sitting around $257 billion, the cryptocurrency market lost $35 billion in less than 30 minutes on September 24. Since then, many digital assets have found new support, but bears have started to claw away at these areas. Most cryptocurrencies are testing their weekly support trendline that started gathering steam in May as the market approaches a crucial turning point.

Also read: The World Bank’s Blockchain Bond Is Just a Fancy Way of Selling Debt

While Holding Foundational Support, Crypto Markets Face a Fork in the Road

On October 20, digital currency markets are meandering at levels not seen since spring and many traders are uncertain where the road will lead. The market cap of all 2,000+ cryptocurrencies is hovering around $220 billion and global trade volume is about $50 billion. BTC has wavered between $7,900-8,090 in the last 24 hours and prices are down 4.7% for the week. The overall BTC market valuation is $144 billion out of the $220 billion,…