Crypto 'Big Cap' Again Weak, Small Coins Rise

The majority of crypto currency prices moved lower in trading Tuesday (6/7/2021) morning Indonesian time, after experiencing strengthening for the past week.

Based on data from CoinMarketCap at 09:00 WIB, of the seven cryptocurrencies with the largest capitalization, five of them weakened, while two cryptocurrencies strengthened.

Only Binance Coin crypto was observed to still strengthen 0.72% to a price level of US$ 303.96 per coin or equivalent to Rp. 4,401,341 per coin (assuming an exchange rate of Rp. 14,480/US$). Next, digital coin Tether was observed to slightly rise 0.09% to the level of US $ 1 per coin (Rp 14,480/coin).

While other cryptocurrencies weakened again in trading this morning. Bitcoin slumped 2% to US$ 33,881.31/coin or equivalent to Rp 490,601,369/coin, Ethereum fell 1.72% to US$ 2,227.58 (Rp 32,255,358/coin), Cardano fell 0.52% to US$1.42/coin (Rp 20,562/coin).

Furthermore, Ripple corrected 2.8% to a price position of US$ 0.6615/coin or equivalent to Rp. 9,579/coin, and Dogecoin fell 3.58% to US$ 0.2336/coin (Rp 3,383/coin).

After last weekend's positive crypto movement, Bitcoin's movement began to tend to decline, even now trading in the range of US$ 33,000 - US$ 34,000.

Not only Bitcoin, most of the altcoins have also failed to continue their gains as Ethereum has dropped below $2,300 and Binance Coin has almost broken below $300.

There are fears that history will repeat itself and the asset could lose traction over the weekend, as it did in previous weeks.

The volume of transactions has decreased massively in recent days. Data from Bitcoinity shows that some of the largest cryptocurrency exchanges have seen volume drop to multi-month lows.

After last weekend's positive crypto movement, Bitcoin's movement began to tend to decline, even now trading in the range of US$ 33,000 - US$ 34,000.

Not only Bitcoin, most of the altcoins have also failed to continue their gains as Ethereum has dropped below $2,300 and Binance Coin has almost broken below $300.

There are fears that history will repeat itself and the asset could lose traction over the weekend, as it did in previous weeks.

The volume of transactions has decreased massively in recent days. Data from Bitcoinity shows that some of the largest cryptocurrency exchanges have seen volume drop to multi-month lows.