The crypto market capitalization falls below $ 1 trillion because Bitcoin and old coins are deep red: the summary of this week

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Die letzten sieben Tage wurden zu einem Blutbad auf dem gesamten Kryptowährungsmarkt, der gemessen an der Gesamtkapitalisierung unter 1 Billion US-Dollar fiel. Dies geschieht zum ersten Mal seit dem 14. Januar. Der Rückgang ist auf viele negative makroökonomische Entwicklungen zurückzuführen, also packen wir es an. Das Wichtigste zuerst: Der Preis von Bitcoin wird um die 20.000 $ gehandelt, wenn auch etwas darunter zum Zeitpunkt des Verfassens dieses Artikels. Das Intraday-Tief liegt bei 19.549 $ bei Binance und BTC ist in den letzten sieben Tagen um etwa 15 % gefallen. Die meisten Verluste ereigneten sich jedoch in den letzten 24 Stunden. …
The last seven days have become a bloodbath on the entire cryptocurrency market, which was based on the total capitalization of less than $ 1 trillion. This has been done for the first time since January 14th. The decline is due to many negative macroeconomic developments, so we tackle it. The most important thing first: The price of Bitcoin is traded around $ 20,000, albeit a little below at the time of writing this article. The intraday low is $ 19.549 at Binance and BTC has fallen by about 15 % in the past seven days. However, most of the losses have occurred in the last 24 hours. ... (Symbolbild/KNAT)

The last seven days have become a bloodbath on the entire cryptocurrency market, which was based on the total capitalization of below $ 1 trillion. This has been done for the first time since January 14th.

The decline is due to many negative macroeconomic developments, so we pack it.

The most important thing first: The price of Bitcoin is traded around $ 20,000, albeit a little below at the time of writing this article. The intraday low is $ 19.549 at Binance and BTC has fallen by about 15 % in the past seven days. Most of the losses occurred in the last 24 hours.

The rest of the market is no different. Ethereum has also fallen by 15 %, BNB - 9.1 %, Dogecoin - 20 %, Matic - 17.7 %, Sol - 20.5 %and so on - you get an image. The only remarkable exception is XRP. Interestingly, it has only dropped by 2 % and the best performer among the top 10.

The crash occurred during the last 24 hours and not without good reasons. First, the Silicon Valley Bank-a large financial institution with deposits of a quarter of a trillion-experienced a drop of the course of around 70 %after trying (and failing), getting funds through a stock sale in order to close a huge $ 1.8 billion hole. The investors were worried about their funds, which had a negative impact on the entire sector.

At the same time, US President Joe Biden presented the new budget that abolishes collecting tax losses for crypto investors and also suggests serious increases from various taxes. While many believe that the budget is not adopted, the tension intensified.

The New York general attorney submitted a lawsuit against Kucoin in which it is claimed that ETH was a security. For the first time, an official claims that ETH is security in court. This led to additional regulatory pressure, which Gary Gensler-the chairman of the SEC-also added to the commission that almost no crypto entrepreneurs followed the Commission's regulations. Funny times.

You can say with certainty that we had better days, but it is still interesting to see how the market will develop in the coming weeks. Is that a new test of $ 20,000? We will see.

market data

Market capitalization: 965 billion $ | 24-hour band: $ 108 billion | BTC dominance: 39.9 %

Bitcoin: 19.929 $ (-15.1 %) | ETH: 1.406 USD (-15 %) | BNB : $ 273 (-9.1%)

Bitcoin_bear

The headlines this week should not be missed

6 possible reasons why Bitcoin crashed less than $ 20,000 in one day. Bitcoin has slipped below 20,000 today and lost over 15 % last week. Here are six possible reasons for the latest market turbulence and whether there are further pain.

huobi token flash crashes by 90 % in minutes: here is everything you need to know. ht, the native cryptocurrency of Huobi, fell by over 90 %almost immediately. Within minutes the token was traded at around $ 0.30 and almost immediately quickly returned to the stand in front of the flash crash. It is still over 20% in the minus.

Here you will find everything you need to know about the latest Grayscale Seclectures. Michael Sonnenhein, the CEO of Grayscale, said at the beginning of this week that he was very encouraged by the legal advances that the company made into an ETF when converting GBTC. Here you will find everything you need to know about the latest developments in court.

nyag claims that Ethereum is a security in a lawsuit against Kucoin. Letitia James, the New York General Prosecutor, has filed a lawsuit against the cryptocurrency exchange Kucoin because she sold both goods and securities without the necessary registrations. One of the securities of which NYAG claims that they are sold is ether.

The tax plan of President Biden for 2024 aims at crypto-wash trade and capital profits. President Biden released his official budget for 2024 on Thursday. Cryptocurrency transactions get into the crossfire, while the office also suggests increasing many of the existing taxes.

Arthur Hayes suggests Bitcoin-supported StableCoin Nakadollar. The co-founder and former CEO of Bitmex-Arthur Hayes-suggests the creation of the nakadollar. This is a stablecoin that is supported by Bitcoin-created without the services of the traditional banking systems and therefore excluded from the Fiat regulations.

diagrams

This week we have a chart analysis from Ethereum, Ripplecardano, Dogecoin and Polygon - click here for full price analysis.

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