by Coinstrooper Crypto Articles
Quick Take
  • The crypto market is down today, with the cryptocurrency market capitalisation having decreased by 3% over the past 24 hours to $3.21 trillion.
  • At the time of writing, 95 of the top 100 coins have posted price falls.
  • Also, the total crypto trading volume stands at $117 billion.
  • As of Monday morning (UTC), all top 10 coins per market capitalisation have recorded price decreases over the past 24 hours.

What Happened

Likely to take effect in February, the system will apply across the lender’s non-agency products, including home purchases, refinancing, and investment properties.

In a recent email, John Glover, Chief Investment Officer of Ledn, highlighted that we are currently in Wave IV of the major bull run. Its competition target is between $71,000 and $84,000. The breakdown of any corrective wave is an A-B-C structure, as seen in the chart below.

Market Context

The crypto market is down today, with the cryptocurrency market capitalisation having decreased by 3% over the past 24 hours to $3.21 trillion. At the time of writing, 95 of the top 100 coins have posted price falls. Also, the total crypto trading volume stands at $117 billion.

As of Monday morning (UTC), all top 10 coins per market capitalisation have recorded price decreases over the past 24 hours.

Ethereum (ETH) decreased by 3.6%, now trading at $3,192.

Solana (SOL) follows with a 6.7% decrease to the price of $133.

At the same time, the smallest drop is Tron (TRX)’s 0.5%, trading at $0.3176.

Of the top 100 coins per market cap, 95 are down today, with 10 posting double-digit decreases.

The highest drop in this category is 12.7% by Aster (ASTER) to the price of $0.6265.

Sui (SUI) is next, having dropped 12.5% and trading at $1.56.

Next up is Monero (XMR), which appreciated 6% to the price of $624.

Why It Matters

Further Downside Is Likely

“The question that has yet to be answered is whether the yellow path is the full Wave IV or we will follow the purple path and therefore have another move lower to $71,000,” Glover writes. “From the breakerdown of wave C within this corrective pattern, it seems like another leg lower is likely.”

“From here, it’s likely we’ll see further downside unless buyers step in, with strong support around $88,000. So far, a small rebound has taken BTC back above $93,000, but it’s nothing to write home about.”

Details

Crypto Winners & Losers

Bitcoin (BTC) dropped 2.7% since this time yesterday, changing hands at $92,532.

The highest fall in this period is Dogecoin (DOGE)’s 7.7%, currently standing at $0.1267.

As for the five green coins in this category, Dash (DASH) was the winner with a 9.3% rise, currently standing at $83.24.

The rest are up between 4.5% and 2.3% per coin.

Meanwhile, mortgage lender Newrez will add specific crypto holdings to qualifying assets in its mortgage underwriting process. Borrowers will be able to use Bitcoin, Ether and stablecoins without selling them.

As to which path we’re following, the confirmation will come from either:

a break and close above $104,000 (bottom of A), which would confirm that we followed the yellow path and are now starting Wave V,

or a break below $80,000, which means a move to the low $70,000 before we head higher.

Moreover, Nic Puckrin, digital asset analyst and co-founder of the Coin Bureau, added: “Another weekend, another sell-off in digital assets on the back of tariff news and geopolitics.” BTC has broken below a key support level of $94,000, which marked the January breakout trend line.