Just recently, the bitcoin market opened the week with a good performance until BTC reached a price level above $20,000 yesterday. However, luck was not on the side of the market, the price level was not successfully maintained.
Today, the price of Bitcoin has plummeted to the point of losing almost $2K in value. It's not just BTC that has suffered this fate, other cryptocurrencies have also changed direction. WNT crypto which just made a 10% jump, started to fall.
Since last week's price drop to $18,100 fueled by the US Fed's latest interest rate hike, the major cryptocurrency started to bounce back a bit and traded sideways at $19,000. Starting on Monday BTC has shown bearish signs by dropping to $18,600. However, the crypto-asset BTC rebounded to more than $1,500 on Tuesday.
This surge prompted investors to take profits by selling their holdings. Attempts to break the $21K resistance have again failed. The price of bitcoin recently dropped to $19K after falling to $18,500.
Elsewhere, Ethereum surged to $1,400 after several days of struggling at the $1,300 price level. However, a decline of more than 7% in the past 24 hours has pushed the second largest crypto back to the $1300 level.
Binance Coin, Cardano, Solana, Dogecoin, Polkadot, MATIC, and Avalanche also suffered the same fate. Ripple XRP which is the hope of most of the traders suffered an unfortunate fate when, XRP fell more than 12% in a day to $0.42.
The crypto market has lost $70 billion in today's fall.
