Bitcoin slid by 3% on Thursday. Following on from a 0.80% decline on Wednesday, Bitcoin ended the day at $8,403.6.
Bearish through the day, Bitcoin slid from an early morning intraday high $8,670.4 to a late intraday low $8,296.0.
Bitcoin fell through the first major support level at $8,562.97 and the second major resistance level at $8,462.03.
Steering clear of the third major support level at $8,242.63, Bitcoin found late support to move back to $8,400 levels.
The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, affirmed by the latest pullback.
For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.
The Rest of the Pack
Across the rest of the top 10 cryptos, it was a bearish day for the majors.
Bitcoin Cash SV slid by 15.66% to lead the way down.
Binance Coin (-6.38%), Bitcoin Cash ABC (-6.35%), Litecoin (-6.35%), Stellar’s Lumen (-5.07%), and Tron’s TRX (-6.38%) also saw heavy losses.
Binance Coin (-4.5%), EOS (-2.01%), Ethereum (-3.18%), Monero’s XMR (-3.90%), and Ripple’s XRP (-4.71%) saw more modest losses on Thursday.
Through the current week, the crypto total market cap rose from a Monday low $234.19 to a Wednesday high $243.39bn. The Thursday sell-off, however, saw the total market cap fall to a current week low $229.26bn. At the time of writing, the total market cap stood at $229.49bn.
Bitcoin’s dominance moved back through to 66% levels following Thursday’s broad-based crypto sell-off
Trading volumes picked up to $94bn levels on Thursday. On Monday, volumes had hit $122bn levels before falling back to sub-$90bn levels. At the time of writing, 24-hr volumes stood at $92.53bn.