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Bitcoin (BTC) has seen virtually no change in the day, but the market today was not exactly flat. Bitcoin (BTC) crashed from $ 3,630 to $ 3,530 yesterday when news broke that the Ethereum (ETH) Constantinople fork had to be delayed due to a critical security bug. After that, Bitcoin (BTC) recorded a constant rise to a peak of $ 3,670 in the morning, before starting a decline to $ 3,580 at the time of writing this article.
The suppression of this mini-rally could be due to the monthly Bitcoin futures contract expiring today on CBoE as this month the futures traders have clearly started shortly, and for a short month, traders generally "bang the close" , meaning that they manipulate the market to discard before the futures contracts expire in order to increase their profits. That said, the Future contract termination on CMC Bitcoin January 25 will probably have a much greater impact on the price of Bitcoin (BTC) than the expiration of the future CBoE contract today.
Other important cryptocurrencies have followed the lead of Bitcoin (BTC) and have hardly seen changes during the day. Ripple (XRP), Bitcoin Cash (BCH), EOS, Stellar (XLM), Litecoin (LTC), Bitcoin SV (BSV), IOTA, Monero (XMR), Dash and Dogecoin (DOGE) have seen price changes of less than percent today. Ethereum (ETH) declined slightly more than 1%, which is surprisingly stable considering the delay of the hard gallows of Constantinople yesterday.
Several cryptocurrencies are seeing mini-rallies including Tron (TRX) with a two percent increase, Cardano (ADA) with a four percent increase, Binance Coin (BNB) with a three percent increase, and Ethereum Classic (ETC) with a two percent increase. It appears that the Ethereum Classic (ETC) market has stabilized despite an important double-cost attack of 51%, it only took place a week ago.
The total market capitalization decreased from $ 122.5 billion to $ 120 billion when the fork of Ethereum (ETH) Constantinople was postponed yesterday, but has since recovered some of that loss with the total capitalization of the crypto market which currently stands at $ 121, 5 billion. In the morning, when the peak of today's mini Bitcoin (BTC) peaked, the total limit on the crypto market briefly surpassed $ 123 billion.
Overall, the encrypted market capitalization is well above the minimum of the $ 100 billion bear market that was set in mid-December, but it is certainly not out of trouble. Bitcoin bear markets (BTCs) often have long periods of stability punctuated by sudden collapse in prices. It will take a constant and significant long-term rally to declare that the Bitcoin (BTC) and crypto-bear market is over.
