The Crypto Daily – Movers and Shakers – June 12th, 2020

Fibo Quantum

Bitcoin slid by 6.33% on Thursday. Reversing a 1.28% gain from Wednesday, Bitcoin ended the day at $9,272.2.

A bullish start to the day saw Bitcoin rise to an early morning intraday high $9,972.8 before hitting reverse.

Falling short of the first major resistance level at $10,053.33, Bitcoin slid to a late afternoon intraday low $9,084.0.

The reversal saw Bitcoin fall through the day’s major support levels before finding support from the broader market.

A partial recovery to $9,270 levels saw Bitcoin move back through the third major support level at $9,156.67.

The near-term bullish trend remained intact in spite of Thursday’s sell-off, with Bitcoin holding well above the 23.6% FIB of $8,900.

For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was also a particularly bearish day on Thursday.

Cardano’s ADA (-10.36%), Stellar’s Lumen (-10.45%), Tezos (-9.73%), and Tron’s TRX (-10.42%) led the way down.

Binance Coin (-6.84%), Bitcoin Cash ABC (-8.68%), Bitcoin Cash SV (-7.38%), EOS (-8.86%), Ethereum (-7.22%), Litecoin (-7.54%), Monero’s XMR (-8.86%), and Ripple’s XRP (-7.44%) weren’t far behind.

Through the current week, the crypto total market cap had recovered from a Tuesday low $265.84bn. The market cap rose to a Wednesday high $278.33bn before a slide to a current week low $252.82bn. At the time of writing, the total market cap stood at $259.01bn.

In the week, Bitcoin’s dominance hit a current week high 66.36% and low 65.70% in Thursday’s sell-off. At the time of writing, Bitcoin’s dominance stood at 66.15%.