Bitcoin Price Slips Below $36K, BTC Dominance Increases, Billions Leave Crypto Economy – Markets and Prices Bitcoin News

Bitcoin’s price hit an all-time low of $34K on Saturday, just after five o’clock EST. Bitcoin is now down over 48% lower than its all-time high (ATH) reached two months ago on November 10, 2021 — when it jumped above the $69K mark. The bitcoin price has dropped 17% over the past week, and many traders and investors have been curious when it will end.

Cyber Currency Market Chaos Continues. Crypto Economy Sinks to $1.75 Tillion

It’s been a blood bath in the world of cryptocurrencies this week, as bitcoin’s (BTC) price has dragged every coin down with it. Today’s crypto-economy is down 11% within the last 24 hour. BTC has been on a downtrend since the crypto asset’s ATH, and since December 27, 2021, back when BTC was trading for $52K, bitcoin has lost more than 32% in value against the U.S. dollar.

Bitcoin Price Slips Below $36K, BTC Dominance Increases, Billions Leave Crypto Economy

Just after 5 a.m. (EST) on Saturday morning, BTC’s value dropped to its lowest point of the year so far, tapping $34,000 per unit. The leading crypto asset’s 24-hour range has been between $39,177 and 34,000 per BTC. BTC’s value has fallen by a lot in the past 48 hours, from $43,400 at the moment to $35.5K-$36K per unit. However, BTC’s dominance has grown significantly.

Bitcoin Price Slips Below $36K, BTC Dominance Increases, Billions Leave Crypto Economy

At the time of writing, BTC’s market dominance is 39.5% which is 5.33% higher than it was on January 6, 2022. On the flip side, Ethereum dominance has fallen to 17%, and many other crypto assets have lost a lot of dominance percentages. The top 10 crypto assets lost the most over the past week. DOT (polkadot) suffered a 32.1% loss.

Bitcoin Price Slips Below $36K, BTC Dominance Increases, Billions Leave Crypto Economy
Here are the top 10 crypto assets ranked by market value on January 22, 2022.

SOL is at 30.5%, while ethereum has declined by 24.6% in the past week. BNB has fallen 23.9%, while XRP (XRP), and Terra (LUNA) have both dropped 21.2% in the past seven days. BTC, ADA and ADA both suffered small percentage losses. ADA dropped 12.4% and BTC lost 16.8%.

This week has seen a significant drop in crypto currency’s value. Many people are talking about it on social media. Twitter’s vertical trends indicate that hashtags such as #cryptocrash #bitcoincrashThese are the latest trends discussions about Michael Saylor and Microstrategy’s bitcoin stash. There has been much speculation about whether Microstrategy and Saylor would sell their BTC, and some have also questioned the viability of Tesla keeping its bitcoin for so long.

Currently, many crypto enthusiasts on Reddit and other social media channels, such as Twitter, don’t know when the chaos will end. Many crypto enthusiasts believe bearish markets have ended and that new ATHs may be on the horizon. However, some others think BTC is possible. drop even furtherBelow the $20K range.

Colin Talks crypto, Youtuber tweeted that he believed the bull run was not over. “Bitcoin’s price has crashed enormously,” the crypto Youtuber wrote. “Many are fearful and panicking. These are normal reactions. Zoom. We’re still up from the July 2021 drop to $29K. For me, the bull run isn’t over unless the bitcoin price is below $29,000 (and not just a momentary dip below it).”

This story contains tags
ada. ATHs. Bear Run. Bearish. Bitcoin, bnb. BTC. Bull run. Bullish. Cardano. cardano. ADA. Colin Talks Crypto. Crypto Winter. ETH. ether. Ethereum. Lows. LUNA. Markets. Polkadot.

You think the Bitcoin price collapse and its impact on crypto-economy is a bad thing? Are you expecting more bearish cryptocurrency prices? Or do you believe the bull market is still going strong? Comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at News is Jamie Redman. Redman is an active participant in the cryptocurrency community from 2011. Redman is passionate about Bitcoin and open-source codes. Redman is a prolific writer for News, with over 5,000 articles on disruptive protocols.

Images CreditsShutterstock. Pixabay. Wiki Commons

DisclaimerThis information is provided for educational purposes only. It does not constitute an offer, solicitation, or recommendation of any company, products or services. is not a provider of investment, tax, legal or accounting advice. This article does not contain any information, products, or advice that can be used to cause or alleged result in any kind of damage.

Get more Crypto News at CFX Magazine