Bitcoin reaches 2-month low because crypto markets lost $ 70 billion in one day: market observation
Bitcoin reaches 2-month low because crypto markets lost $ 70 billion in one day: market observation
Bitcoin has suffered a heavy blow in the last 24 hours and collapsed by almost $ 2,000 to reach a two -month low below $ 20,000
The old coins are not in any better constitution, with ETH, Doge, Sol, LTC, Trx and many others that collapse by up to 15 % in one day.
BTC dumps hard
The last few days did not go well for the primary cryptocurrency. It was last Friday when it fell from $ 23,500 to $ 22,000 when the Silvergate problems came to light, and although there was a good ground in the following days, it could not overcome the $ 22,500.
The landscape changed in the middle of the week when Fed chairman Jerome Powell spoke before the congress. This led to a certain volatility, but overall BTC remained about $ 22,000.
Nevertheless, the change that the bears wanted to see came yesterday when BTC crashed from almost $ 22,000 to less than $ 19,900. The cryptocurrency has thus recorded its lowest price since January 14th.
As a result, the market capitalization of Bitcoin broke down to well below $ 400 billion. Its dominance over the Alts also suffered one blow and fell to 41.5 %. BTCUSD. Tradingview
alts bleed from
The old story that the old coins feel that BTC is going through turbulent times is given today. Ethereum received allegations that US authorities could classify it as security, which led to a massive price dumping. ETH fell by over 8 % in one day and fights to stay over $ 1,400.
Binance Coin, Ripplecardano, Polygon, Polkadot, Shiba Inu and Avalanche have decreased by similar percentages.
Even larger losses come from people such as Dogecoin, Solana, Tron, Litecoin, Uniswap, and other representatives of the large cap alternatives. Huobi Token was one of the worst performers yesterday, as it crashed 90% as one point.
The mid and Lower cap-alcohols have a similar form, with numerous double-digit declines. It is therefore not surprising that the cumulative market capitalization of all crypto-assets lost over $ 70 billion in one day. In addition, the key figure at CMC has dropped to $ 925 billion.
Overview of the cryptocurrency market. Quantify crypto