Today was a fairly good day for BTC, and a downright awful one for alt coins!
Coming back with a market update to my friends at the NERDAY community, and the news is fairly great for Bitcoin.
While BTC did take a few jabs and saw some wicks down to the 22800 price region, has remained rather steady and back above 23000.
On the other hand, the altcoin market today suffered a major sell-off and a mini "capitulate" event with some downright low prices.
The sell panic news come from the SEC involvement with RIPPLE labs, and triggered a massive coin sell off.
Unfortunately due to the low liquidity of many alt coins, some of them saw massive loses down to 30-40%!
Shown below here is a massive wick on the DEFI asset $SUSHI, which had a capitulation wick to over 100% of it's value!
XRP itself had the worst of the day, going down over 100% to nearly .20 from it's intraday high of .44.
Developer & Market Analyst