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Bitcoin continues to decline. Today, the first cryptocurrency updated the weekly low at $ 28,000, losing 3.4% of its value and reducing its market capitalization to $ 543,722,691,002.
The last time Bitcoin dropped to $28,000 on an extreme plum sponsored by Terra was on May 12. Then the cryptocurrency fell to a minimum mark of $ 24,500, but quickly found the support of buyers and recovered above $ 30,000.
The total market capitalization of all cryptocurrencies also fell to $1,244,452,418,330 and -5.5% over the past day.
Altcoins support the decline, losing from 4 to 33% of capitalization. In the TOP-10, Ethereum suffered the most – minus 9.5%, Solana – minus 10.9%, Polkadot – minus 9.8%.
Several factors negatively affected the movement of cryptocurrencies:
- on Friday, Bitcoin futures with a total amount of $ 1.8 billion expire.
- Yesterday, Ethereum in its Beacon Chain testnet showed an unplanned fork, which may indicate the team’s failures in the ambitious transition of the world’s second cryptocurrency to phase 2.0.
- the weakness of buyers who, as it turned out, do not believe in the further growth of the cryptocurrency and do not buy off btc after the next update of the minimum, expecting an even greater decline.
In the last 24 hours it was Eliminated 97,616 traders, the total amount of liquidations amounted to 368.84 million dollars. The largest one-time liquidation order occurred on Okex – the cost of ETH-USDT-SWAP is $ 2.91 million.
Author: Evgeniy MagistraNos, Analyst at Freedman Club Crypto News
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