All of Top 100 Cryptocurrencies See Red Amidst CFTC Price Manipulation Probe

[felixesteban]

Sunday, June 10: crypto markets have seen a sharp drop today, in the wake of the news that the US Commodity Futures Trading Commission (CFTC) has launched a probe into four major crypto exchanges.

All of the top-100 cryptocurrencies by market capitalization are in the red over the 24 hours to press time, while total market capitalization is down by about $20 bln over the same period, according to Coinmarketcap.


Coin360

Market visualization from Coin360

Bitcoin (BTC) has lost just shy of 5 percent of its value in the past 24 hours, currently trading at $7,244. The majority of the decline took place over a period of just 2 hours, earlier today.


Bitcoin price chart

Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index

Ethereum (ETH) is revisiting its early June lows, having dipped below the $600 mark today. After losing around 6 percent in 24 hours to press time, the coin is trading at around $568.


Ethereum price chart

Ethereum price chart. Source: Cointelegraph Ethereum Price Index

Total market capitalization is at $320 bln at press time. The market cap has declined by $120 bln over the past 30 days, constituting a value loss of about 26 percent.


Total market capitalization chart

 

Total market capitalization chart. Source: Coinmarketcap

Among the top ten cryptocurrencies by market capitalization, IOTA (MIOTA) and EOS have suffered the largest losses over the past 24 hours, according to Coinmarketcap. MIOTA is down 10 percent, trading at $1.50. EOS, which saw significant growth earlier this month, coinciding with the release of its EOSIO 1.0 software stack, has not been spared today either, losing 8 percent over the 24 hour period. It is now trading at $13.12.

Read More:
https://cointelegraph.com/news/all-of-top-100-cryptocurrencies-see-red-amidst-cftc-price-manipulation-probe

[altcoingamer]

I don't have any proof but I thnk this is still just manipulation... most of the sell orders for BTC on bitfinex exist primarily on 1 min or 5 min candles and its like 50X the volume of any other time.  I feel like larger players are dumping on one exchange to make it true with arb bots across all platforms.... which is killing alts.. atleast thats what I'm hoping is once we get to that magic number, the market will then be turned around.. we need volume so bad though!