US DoJ crypto enforcement announcement sends Bitcoin below $21,000

The cryptocurrency market cap saw net outflows of $26.3 billion in the last 24 hours and currently stands at $965.18 billion — down 2.64% from $991.48 billion.

Over the reporting period, Bitcoin and Ethereum’s market cap decreased by 2.21% and 3.55% to $400.19 billion and $186.29 billion, respectively.

All top 10 cryptocurrencies recorded losses over the reporting period. The top losers included Shiba Inu, Solana, and Dogecoin which lost 10.18%, 7.18%, and 6.65%, respectively.

Source: CryptoSlate

In the last 24 hours, the market caps of Tether (USDT) and USD Coin (USDC) marginally declined to $66.48 billion and $43.11 billion, respectively. The market cap of BinanceUSD (BUSD) rose to $16.31 billion.

Bitcoin

BTC fell 2.26% to trade at $20,743 as of 07:00 ET. Its market dominance jumped to 41.4% from 41.2%.

In the last 24 hours, Bitcoin fell below $21,000 following the FUD spread by the U.S. Department of Justice’s enforcement action. According to Santiment, traders were scared that the DoJ was “honing in on something more drastic” rather than the actions taken against Bitzlato.

BTC 24-Hours Price Performance (Source: Tradingview)

Ethereum

Ethereum dropped 3.64% over the last 24 hours to trade at $1,519 as of 07:00 ET. Its market dominance dropped to 19.3% from 19.5%.

ETH mirrored Bitcoin’s price movement in the last 24 hours, falling near $1500. The digital asset peaked at $1602 and bottomed at $1509.

ETH 24-Hours Price Performance (Source: Tradingview)

Top 5 Gainers

TNC Coin

TNC is the day’s biggest gainer, increasing 26.96% over the reporting period to $0.103 as of press time. The Ethereum-based gaming token is up 59% in the last 30 days. Its market cap stood at $604.33 million.

Enjin Coin

ENJ gained 8.8% in the last 24 hours to trade at $0.41408 as of press time. The NFT-related blockchain recently launched the Enjin wallet and NFT marketplace NFT.io, increasing interest in the protocol. Its market cap stood at $414.08 million.

Kava

KAVA rose 7.78% to $1.03 in the last 24 hours. The DeFi token increased by over 40% in the last seven days. Its market cap stood…

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