The crypto market is down today, even though there are no clear reasons why. The Bitcoin (BTC) price was rejected by the resistance line of a corrective pattern. Curve DAO Token (CRV) and Dogecoin (DOGE) are the biggest losers since yesterday.
The most interesting crypto market news from Dec. 1 was a report from the Wall Street Journal, which said that rising Tether loans present a risk to the cryptocurrency industry. However, Tether hit back, stating that their loans are heavily collateralized and do not present any threat to the cryptocurrency market.
Crypto Market Is Down by 1.5%
The total crypto market cap (TOTALCAP) went down by 1.5% on Dec. 1. The rejection occurred very close to the long-term $830 billion resistance area. The area previously acted as support throughout June-July (green icons) and has now turned to resistance. In order for the trend to be considered bullish, it is crucial that the crypto market cap reclaims…
