December 29, 2021

Bitcoin (BTC) Makes Another U-Turn, Sinking Below $ 50,000

 The crypto market is once again plummeting following the price of Bitcoin (BTC) again diving below the $ 50,000 level since noon yesterday.


Attention to the entire crypto market also found altcoins, including metaverse tokens, DeFi and non-fungible tokens (NFT) affected by Satoshi Nakamoto’s decline in asset prices.


At the same time, Ethereum (ETH) slipped nearly 7% from a level of $ 4,038 to a daily low, $ 3,761 today.


However, at the time of writing BTC posted a value of $ 47,868, down nearly 4%; ETH traded at $ 3,810, down over 4% in 24 hours.


Meanwhile:


Solana (SOL): $ 178.97 (down over 6%)

Cardano (ADA): $ 1.40 (down over 5%)

XRP: $ 0.862 (down almost 5%)

Terra (LUNA): $ 87.14 (down over 5%)

Dogecoin (DOGE): $ 0.17 (down over 3%)

Shiba Inu (SHIB): $ 0.00003536 (down over 5%)


Perhaps the factor to the rather disappointing movement is closely linked to investors starting to liquidate assets to make a profit, preparing for the arrival of the new year.


Data from CoinGlass found more than 165,000 investors had liquidated futures contracts worth nearly $ 523 million in more than 24 hours.


The record also involves the liquidity of Bitcoin investments costing over $ 167 million.


This negative sentiment also dragged the value of the crypto market down more than 4%, to around $ 2.38.


So it is no wonder why the market situation suddenly turned sour.


What's more, hurry up and top-up your coins! But, be careful!