Digital currency prices have slumped again as the entire crypto market capitalization has dropped below $200 billion. At press time, most of the top digital assets are down a few percentages after gathering some gains over the last few days. With multiple coins getting rejected after trying to surpass upper resistance, skeptics think crypto prices could see further declines. However, BTC/USD long positions have spiked considerably despite market uncertainty.
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Crypto Cap Drops Below $200 Billion
The cryptocurrency market cap on Wednesday is hovering around $197 billion and there’s roughly $58.9 billion in 24-hour global trade volume today. A few days ago cryptocurrency traders attempted to push prices northbound but after being crushed by upper resistance, crypto asset values went south. For instance, on December 9, BTC prices shot up to $7,600 but since subsided and each coin is now swapping for $7,230 per BTC. The heavily correlated markets below BTC followed…