BTC’s price dropped to approximately $25,000. As of December 2020. The same thing happened in crypto markets recently. The result is that most altcoins have experienced a plunge in their prices, leading to liquidation of more than $600 million.
BTC Prices in June: A Rundown
BTC seemed promising in June’s dawn, when it hit a high of $32,000. This was its highest level for the week. Then, prices plunged to $30,000. Bitcoin was unable to surpass this level despite numerous efforts.
It continued this way for many days up to the last week of June. The price reached the desired $30,000. It created a green-colored bar, which broke through the 9 consecutive bearish candle bars.
Dogecoin Shed 91% Of Its Value Since 2021 High – A Musk Tweet To Pump DOGE?| Dogecoin Shed 91% Of Its Value Since 2021 High – A Musk Tweet To Pump DOGE?
The asset’s price went up by $1,000, resulting in a dramatic increase. It was then worth more than $31,000. Its market capitalization stood at $600B and was more than 46% higher than the rest of the coins.
Bitcoin Price Drops to $25K. Liquidating $600M
There have been many developments in crypto markets over the past seven days. The price of Bitcoin jumped to more than $32,000 last week. BTC lost this value. BTC’s sale price dropped by several thousand dollars to $25,000.
BTC currently sells for just under $23,000. The bearish trend started last weekend. It is the first time that BTC has experienced an identical price decline in 18 months.
Important coins like Ethereum are also being affected by this bearish trend in the price. ETH had a price of approximately $2,000. This was a week before. ETH currently sells at $1,200 according to the cryptocurrency market charts. This price is second in value to Ethereum and the record high for the cryptocurrency.
Altcoins Plunged In Prices
Bitcoin’s bearish trend is already impacting other altcoins. BTC falls 10%-11% and many other altcoins drop by double-digits. The crypto market is turning red. The crypto market’s affected altcoins are Eth, ADA, SOL, and more.
Ether falls below $1,400, pummeled by US Inflation and Difficulty bomb Setback| Ether Drops Below $1,400, Pummeled By US Inflation And Difficulty Bomb Setback
The red deep is large for TRON, as it’s down 21% on a 7-day basis. The market bearishness has led to a massive accumulation of liquidation that amounts to approximately $500 million.
Featured image by Pexels. Chart from TradingView.com