Today, the cryptocurrency markt cap is $1.71T which is a decrement of 2.94% from yesterday.

The total volume in last 24 hours is $90.02B, which is also decreases 0.72%.
The total DeFi volume is $11.02B which is 12.24% of the total crypto marketcap.
The stable coin marketcp is now $77.25B, that is almost 85.81% of the total volume in last 24 hours.

The price if Bitcoin is around $38k that is facing another downtrend.

The bitcoin dominance is currently 42.19%which is increasing that showing the probability of upcoming bear market.

What's Next?

The novement of the market seems bearish and there is a huge head and shoulder formation in the longer time frame. But why there should be another crash? I am going to share my tgoughts from non-technical aapects from my market observation from 2016.

• Firstly the evolution of the crypto is not stable yet, still there are so many concerns, so many regulations, so many manipulation and so many whales play games with the general crypto hodlers. As a result the market is still considered to be a place of gambling to many people. Look at the Indian govt. The implemented gambling taxes on he crypto transaction.

• The overall market cap is still vulnerable due to the Russian war and still the effect of Covid-19 is not wiped out from the global economy. But the truth is that it needs couple of years for the reestablishment of the global economy.

• The most imoortant concern is about the government side, many Govt depends on the money printing process for tackling their economic crisis. Many govt. has very poor knowldge about crypto and they want to restrict as much as possible. And, some govt. has ridiculous strategy to impose some unpleasant rules and regulations.

• Another concern is about the existing financial companies and banking sectors. They are loosing their steps with the flexibility and pace of cryptocurrencies. So, they are trying their wholeheartedly to dominate over the blockchain industries.

What next??

Now there is two possibilities from my thoughts. But still crypto market is always unpredictable. As the crypto market is closely related to BTC, the discussion will be based on the Bitcoin.

• A sudded dump of significant percentage can occur and then the market will start recovering, as the dump can trigger more buying pressure from many people who are waiting for opportunities to buy Bitcoin at around 30k. But this possibility is relatively lower according to my thoughts with my overall experience.

• The second possibility is more logical and practical for me as this suggests the price of a BTC will continue tumbling below 40K. Then multiple dump will be here in a long time frame may be couole of months. A similar trend befor 2020, same like those bear market.

What ia the benefit fro thia bear season?

• Many less important and week projects which have gained false popularity will die slowly that will make the marketbmore stable im the long run.

• Only the most useful projects will survive by fulfilling their communities demand. The fake and shit probects will loose all of uts value and community.

• Only the sustainable project will survive and more deadhodler will be involved in the industry which is necessary fo the whole crypto world.

What is your thought on the market, let me know through the comments.

Thank you very much for your time and attention. I will catch you at the next.