BTC sellers drive market-wide pullback as stocks surge

Today’s edition of OKEx Insights’ Crypto Market Daily covers Bitcoin, Ethereum, altcoins and DeFi.

The cryptocurrency market is currently undergoing a strong correction amid a pullback from the market leader, BTC. The first and foremost digital asset is currently trading at 17,844 USDT on OKEx and is down approximately 6.6% across global cryptocurrency exchanges. Likewise, ETH and XRP have fallen by 8.0% and 14.3%, respectively.

The significant market pullback has decreased the total cryptocurrency market capitalization by 7.6%, to just over $530 billion, as per data from CoinGecko. BTC dominance, meanwhile, has increased by 0.4%, to 62.3%.

Meanwhile, traditional markets have once again displayed their lack of concern with the increasing number of COVID-19 cases and deaths around the world, as the S&P 500 reached a new all-time high on Tuesday — driven mostly by renewed optimism surrounding economic stimulus talks in the United States.

Top altcoin gainers and losers

• MOF/USDT +24.78%
• CNTM/USDT +17.90%
• APM/USDT +17.19%
• TAI/USDT -24.52%
• WING/USDT -27.35%
• RIO/USDT -32.66%

QUN is the worst performer on OKEx for the second straight day after shaving off another 35.87% in the past 24 hours.

Visit https://www.okex.com/ for the full report.

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BTC sellers drive market-wide pullback as stocks surge was originally published in OKEx Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.