BTC Rides Support Downward After Big Dips

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BTC is continuing to trend downwards on its line of former resistance turned support.

After the news from the Fed, it’s not too surprising that BTC is following fiat-based markets in their dips. Currently, the MFI is still bordering oversold territory and the MACD is looking fairly neutral. It wouldn’t be too surprising if crypto markets continue to dip following fiat markets.

The overall cryptocurrency market has taken a plunge as well. The overall cryptocurrency market cap is now down to approximately $1.95 trillion. Volume is currently around $135 billion in the overall cryptocurrency market today. ETH dominance has dipped slightly while BTC dominance holds fairly steady. BTC dominance is at 39.9% while ETH dominance is at 19.1%.

Ethereum has taken an even higher percentage plunge than BTC. It’s MACD looks like it could try and trend lower once more. ETH’s MFI is moving fairly neutrally near oversold territory. Ethereum will likely continue to follow BTC as it often does in high times of volatility.