The performance of the global crypto market has shown lag as the negative trend continues. The continuing losses have brought Bitcoin, Ethereum, and others to new lows. Though the market had seen a positive trend after the massive losses to the market, it couldn’t continue. The positive trend brought the investors’ trust to a reliable level, but the current situation might erode it further. As the negative trend continues, the sell-offs in the market might increase.
DC Attorney has sued Michael Saylor and MicroStrategy for tax evasion. Karl Racine said in a statement that if a person lives in the city of DC and refuses to pay the fair share of taxes, then they will be held accountable. Karl also announced that his office has sued Mr. Saylor and his firm MicroStrategy for charges related to tax evasion. He shared the details on a Twitter thread.
The threat says that Mr. Saylor never paid any DC income taxes while his company conspired to help him evade taxes. The Attorney General’s office said that Saylor owes more than $25 million in taxes for his income during his residency in DC. As the case proceeds, the penalties can be more than $100 million.
Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.
BTC regresses
Bitcoin bears have continued to push, bringing Bitcoin to make or break levels. However, despite odds, Bitcoin has attempted to consolidate at the $20,000odds. If Bitcoin wants to clear its way, it will have to cross the $20,550 resistance zone. If it happens, Bitcoin might continue steadily.
The recent changes for Bitcoin show a continuing bearish pattern. The latest data shows that it has receded 1.60% over the last 24 hours. The weekly data shows a loss of 6.50%.
The price value for Bitcoin is currently in the $20,086.24 range. The market cap value for Bitcoin is estimated to be $384,411,168,530. The 24-hour trading volume of this coin is about $32,081,357,391.
ETH in losses
Ethereum miner addresses have hit new highs ahead of the much-anticipated merge. According to available updates, these addresses are at a 4-year high as per data taken from the on-chain record. There are chances that their growth will continue in the coming days as well.
The value of Ethereum has also seen continuing losses due to dominant bears. The latest data shows that it has shed 3.54% over the last 24 hours. In comparison, the losses for the last seven days are 6.92%.
The price value for ETH is currently in the $1,553.13 range. The market cap value for this coin is estimated to be $189,779,669,100. The 24-hour trading volume of this coin is about $19,396,717,318.
DOGE unable to gain value
Dogecoin has also been attempting to regain value, but it has remained recessive. The latest data shows that it has shed 3.59% over the last day. The losses for the last seven days amount to 10.74%. The price value for DOGE is currently in the $0.6095 range.
The market cap value for Dogecoin is estimated to be $8,086,853,058. The 24-hour trading volume for this coin is estimated to be $297,513,022. The same amount in its native currency is about 4,880,919,651 DOGE.
SHIB facing hard times
Shiba Inu has also faced a negative trend due to a bearish market. The latest data shows that it has regressed 3.11% over the last day. The weekly data shows that its losses amount to 7.38%. The price value for SHIB is currently in the $0.00001213 range.
The market cap value for Shiba Inu is estimated to be $6,661,508,245. The 24-hour trading volume of this coin is about $272,528,084. The circulating supply of this coin is about 549,063,278,876,302 SHIB.
Final Thoughts
The global crypto market has seen a continuation of negative changes. The recent data for Bitcoin, Ethereum, and others show bearishness. The value of the market has also dropped due to continuing sell-offs. If the current situation persists, the global market cap value will go even lower. The latest data shows that it is estimated to be $977.53 billion.
