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Bloodbath Continues As Bitcoin Plunges To Lowest Price Since January (Market Watch)

                                                            Die Situation von Bitcoin hat sich in den letzten 24 Stunden noch einmal verschlechtert, und der Vermögenswert fiel auf den niedrigsten Stand seit dem 24. Januar. Etwas erwartungsgemäß sind die alternativen Coins in einer noch schlechteren Verfassung, mit massiven Kursverlusten von Terra, MATIC, CRO und anderen.

Bitcoin’s new low

After the US Federal Reserve said it would raise interest rates by 50 basis points instead of the expected 75 basis points, Bitcoin’s price jumped last week, hitting $40,000. This didn’t last long, however, as the asset reversed its trajectory in the days that followed.

First, it collapsed by more than $4,000 to $36,000. While it stayed there yesterday, it took another turn for the worse in the last few hours. This time, BTC crashed to just above $34,000 for the first time since Jan. 24 (on Bitstamp).

Of course, the loss of around $6,000 in just a few days resulted in a major shift in overall sentiment as Bitcoin fear and greed index entered deep territory of “extreme fear.”

Currently struggling at $34,500, bitcoin is down about 4% again on the day. In addition, the market capitalization dropped to around $660 billion.

Bloodbath Continues As Bitcoin Plunges To Lowest Price Since January (Market Watch), Crypto Trading NewsBTCUSD. TradingView

Olds bleed out

As mentioned above, the alternative coins are also suffering, with red dominating almost all charts. Ethereum is leading this negative trend with a daily decline of 4.5%. On a weekly basis, ETH is down more than 8% and the second largest crypto has fallen to $2,550 after surpassing $3,000 not too long ago.

Binance Coin has lost a similar percentage and is now below $360. RippleSolana, Cardano, polka dots, DogecoinAvalancheShiba Inu and NEAR Protocol are also deep in the red.

For the second straight day, Terra is the biggest loser among large-cap alternatives. LUNA has lost another 13% in value and is now struggling below $65. MATIC, Shiba Inu and CRO have also lost significant values.

Apart from Algorand, Axe Infinity and Tezos so are most other lower and mid-cap alternatives in the red. This marks the first time crypto market cap has fallen below $1.6 trillion in months. This means the metric is down over $200 billion in just a few days.
Bloodbath Continues As Bitcoin Plunges To Lowest Price Since January (Market Watch), Crypto Trading NewsOverview of the cryptocurrency market. Quantify Crypto

Source: Crypto News Deutsch

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