Bitcoin falls below $ 40,000 and pulls the crypto economy under $ 2 trillion markets and prices
Bitcoin falls below $ 40,000 and pulls the crypto economy under $ 2 trillion markets and prices
on Thursday evening at 10 p.m. (EST) the price of Bitcoin fell under the $ 40,000 zone for the first time since September 21, 2021. During the trading sessions in the early morning, Bitcoin fell to a low of USD 38,250 per piece of coin. In addition, the market capitalization of the entire crypto economy has slipped under the $ 2-billion mark, which corresponds to a decrease from 7.5 % to $ 1.94 trillion.
Bitcoin lost 8 % in the last 24 hours, which corresponds to a decline of 40 % compared to the all -time high in November
The price of Bitcoin (btc) fell under the 40,000-Dollar zone for the first time in 122 days. Bitcoin has lost around 8 % in the last month and Bitcoin has lost 21 % over the US dollar last month.
The 24-hour price range from Bitcoin was between $ 43,508 and $ 38,250 per unit. At the time of writing, bitcoin has a market assessment of around 735.8 billion US dollar. Bitcoin's market rating today is around 38 % of $ 1.94 trillion, while that of Ethereum ( ETH ) the market capitalization is 17.7 %.
The best trading pair with bitcoin on Friday is tether ( usdt ) with 51.86 % of all trades. The US dollar followed on Tether with 21.75 % and the StableCoin Busd with 7.71 %. Follow Busd (4.86 %), JPY (4.25 %), KRW (3.05 %) and USDC (1.69 %).
The second largest crypto-asset, ether (eth) , has fallen by 9.1 % in the last 24 hours and 29.1 % last month. eth The 24-hour price range of LAG between 3rd 271 and 2.809 US dollar per unit.
While eth The dominance of is 17.7 %, which is 340.9 billion US dollar of $ 1.94 trillion crypto corresponds. The most dominant trading pairs with eth on Friday contain usdt (48.83 %), USD (22.75 %), Busd (9.34 %), bitcoin (6.07 %), EUR (4.38 %) and Krw (3.32 %).
of all more than 12,000 existing crypto assets have only increased five coins in relation to weekly profits. Theta fuel, ftx token, Bittorrent Old, Osmosis and Ecomi still have single -digit seven -day price increases compared to the rest of the crypto economy.
The greatest losers this week are Loop Ring, Pocket Network, Kadena, Harmony and Near. All five coins have lost 25 % to 33 % of their value in the last week.
CEO of Delta Exchange says: "Overall outlook remains pessimistic", analyst of global block suggests that Bitcoin may be undervalued
on Friday morning, Pankaj Balani, CEO of delta exchange , Bitcoin.com news shared his analysis of Bitcoin's current market price. Balani says that the current prospects continue to stay in favor of the bear.
" bitcoin slipped under the psychological support of 40,000, in the middle of the continued sales. Corrected by ~ 40 % in November last year, ”said Balani. "We expect bitcoin to find a bid around 35,000 marks. to challenge, but the general prospects remain pessimistic because liquidity remains scarce. ”
Marcus Sotiriou, analyst at the broker for digital assets based in Great Britain = "_ blank" href = "https://www.globalblock.co.uk/" Rel = "noopener"> globalblock suggests that Bitcoin may currently be underestimated.
"It is important to note that the crypto fear and greed index remains in extreme fear-this usually represents a purchase opportunity," said Sotiriou. "The on-chain indicators are also still optimistic, since the unrealized net profit/loss (Nupl), which shows the amount of the unrealized profit and loss of Bitcoin holder as a share of market capitalization, is currently being traded at 0.43, the lowest level of networking stability since July 2021." The global block analyst added:
This underlines the fear that now surrounds the market because many surrender with loss. These key figures indicate that Bitcoin at the current price level is undervalued due to what happened in earlier episodes of extreme fear.
What do you think about today's Bitcoin price campaign and the rest of the cryptomark movements? Share your opinion on this topic in the comment area below.
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