Investors today prefer to look away from their portfolios. Shares, precious metals and also crypto coins turn bright red. Almost the entire crypto market is taking a hit, but Bitcoin (BTC) and Ethereum (ETH) in particular are on the ropes.
In this price update we will tell you exactly what the current state of the crypto market is.
BTC price drops 9% in 3 days
The Bitcoin price fell below $70,000 this morning for the first time in a week. After that, it only stood above this limit for a while at the end of the morning. At 4:45 PM it was even briefly below $69,000.
Today is the third losing day in a row for Bitcoin. Since the peak of $ 76,000, which was set on Monday night, the price has already fallen by more than 9 percent. So there is again immense force behind the downward movement, which is indicative of the bear market we are clearly in.
We also see red numbers on Wall Street today. The S&P 500 is down 0.51 percent and the Nasdaq 100 is down 0.63 percent. The biggest blows are falling on the precious metals. Gold has become 5.77 percent cheaper and silver has plunged 9.31 percent.
The declines can largely be attributed to further escalations in the Middle East. Yesterday, Israel bombed facilities at South Pars, the world’s largest gas field, and Iran retaliated with a missile attack on Qatar’s Ras Laffan complex.
As a result, we see energy prices rising further and that is causing a lot of fear in the markets. It could seriously damage the global economy and increase inflation at the same time. That’s a nightmare scenario for central banks.
In any case, the Bitcoin price has followed the same path as at the beginning of the year and now the question is whether we will be presented with an even greater decline again.
$69,000 is an important level that needs to be defended and you can read more about that in this article.
At the time of writing, the BTC price is at $69,264, 2.77 percent lower than 24 hours ago. In euros, 60,092 is now paid for the largest crypto.
XRP and Solana remain strong
Ethereum has fallen even harder and has to deal with a loss of 2.71 percent. With other large coins the damage is not too bad. For example, Ripple (XRP) fell by 0.92 percent, Solana (SOL) by 1.77 percent and Dogecoin (DOGE) by 1.66 percent.
The biggest climbers
Here and there there are some altcoins that have managed to distinguish themselves with a price increase. Below are the biggest top 100 risers of the past 24 hours:
- DeXe (DEXE): +11,81%
- Quant (QNT): +6.04%
- River (RIVER): +4,30%
- Sun (SUN): +3.57%
- Pi (PI): +3.30%
The biggest losers
Below are the biggest top 100 decliners of the past 24 hours:
- Bittensor (TAO): -8,46%
- Worldcoin (WLD): -8,24%
- Zcash (ZEC): -8,01%
- Artificial Superintelligence Alliance (FET): -6,52%
- LayerZero (ZRO): -6.43%
Source: https://newsbit.nl/crypto-koersupdate-bitcoin-en-ethereum-beleven-dramatische-dag/
