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Latest Situation in the Market: Bitcoin Regressed to $ 61,000 Levels!

Bitcoin slumped to the $61,000 price levels, staying below the critical $63,000 support level. Ethereum, on the other hand, started to trade at the price levels of $ 4,350 with the decreases it recorded.

Latest Situation in the Market: Bitcoin Regressed to $ 61,000 Levels!

The cryptocurrency market has shown a general bearish trend in the past 24 hours. While Bitcoin dropped 7% to $61,000 price levels, Ethereum started trading at $4,350 price levels with a decrease of about 8%.

Latest Situation in Bitcoin and Ethereum

The leading cryptocurrency Bitcoin, which has recently recorded high volatility price movements, has lost some value with the downward price movements it has recorded in the last 24 hours. Although Bitcoin made its weekly closing above critical levels with its rises, it could not maintain these value increases to a large extent and remained below the critical $ 63,000 support level. With the depreciation that it started to record from the price levels of $ 65,000, Bitcoin started trading at the price levels of $ 61,200. Although Bitcoin instantly regressed to the price levels of $ 60,600, it reacted from the support zone of $ 60,000 and rose above the price levels of $ 61,000 again.

Bitcoin Usd Chart
Bitcoin Usd Chart

Ethereum , the second-largest cryptocurrency by market capitalization, also recorded similar declines as Bitcoin. Although Ethereum exhibited a high price performance by reaching all-time highs multiple times in a short period of time, it adapted to the general bearish trend in the market and suffered some losses. In the last 24 hours, Ethereum started to trade at the price levels of $ 4,350, with the milking price movements that it started to record at $ 4,700.

Ethereum USD Chart
Ethereum USD Chart

What About Other Crypto Assets

Along with the depreciation in Bitcoin, most crypto assets have experienced certain decreases. Binance Coin (BNB) tumbled 6.7%, Solana (SOL) 5.8%, Cardano (ADA) 5.2% and Ripple (XRP) 7%. Among the top ten cryptocurrencies by market cap, the crypto asset that recorded the highest decline was Polkadot (DOT), with a loss of more than 10% . Within 24 hours, DOT dropped from the price levels of $ 46.92 to $ 42.20 with the declines.

The information contained in this article does not constitute investment advice. Investors should know that cryptocurrencies carry risks due to their high volatility and should perform their transactions in line with their own research.

Samuel Hegi

Samuel Hegi , who first became acquainted with blockchain technology in 2014, is highly critical of blockchain technology. Samuel Hegi, a journalism graduate from the University of Brighton Theblockchainnew.com he is the editor-in-chief of the news portal. Blockchain is love.

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