Bitcoin falls towards $ 29,000, while Ethereum bulls fight at $ 2,000 (Market Watch)

Bitcoin falls towards $ 29,000, while Ethereum bulls fight at $ 2,000 (Market Watch)

The cryptocurrency market has struck something in the past few hours. Bitcoin's price fell to around $ 29,000, while Ethereum is just under $ 2,000.

The bulls try to defend these decisive levels, and it is important to see how things develop and whether there is another crash.

The Bitcoin price falls to $ 30,000

The market has developed relatively well in the last 24 hours, as the prices recovered from the recent declines. Bitcoin had reclaimed $ 30,000.

Unfortunately, the past hour turned out to be fairly negative because the price fell to $ 29,000 in less than 15 minutes. Longs made up the overwhelming majority of liquidations, which could be a classic example of a long squeeze.

Tradingview

However, BTC has tagged $ 29,000 per cent and is currently $ 29,300, as can be seen in the graphic above.

Ethereum bulls fight around $ 2,000

Just as $ 30,000 are an important level for Bitcoin, $ 2,000 is also an instrumental range for Ethereum. The price is currently nearby, and the bulls are fighting to protect it.

Quantify Krypto

As can be seen in the above heat map, all important cryptocurrencies were surprised by this latest step, and the market is largely red.

Sol lost quite a bit - about 8.5 % of its price. It is also quite obvious that Bitcoin will set a good sign compared to the rest of the market.

Radix (XRD) remains the best performer for another day. Despite the turbulence, cryptocurrency has increased by 10 % in the past 24 hours. In the last hour, however, he lost 9.4 %. Apart from that, all other old coins act in the minus. The Arbitrum Arbit lost 12.6 % and is the worst performer during this period.

It is interesting to see how the market will develop in the next 24 hours and whether this is only a temporary correction or the beginning of a deeper correction.

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