The cryptocurrency markets continue bleeding out, with Bitcoin dropping to as low as $101,000 earlier today.
At the time of this writing, BTC recovered slightly and trades above $102,000 but analysts are scraping for answers and looking for the local bottom.
As seen from the 1-hour chart, at least on that time frame, the cryptocurrency has been in a clear downtrend for the past five days, marking lower highs and lower lows consistently.
Data from Coinglass also reveals elevated levels of liquidated positions across the leverage market. Almost $700 million were wiped off, which is a 35% increase compared to the day before. Naturally, the overwhelming majority of that were longs, accounting for around $600 million of the total.
The heatmap below also paints a depressing picture. As you can see, with the exception of LEO, every single altcoin from the top 50 (by market capitalization) is charting significant losses over the past 24 hours.
The post Bitcoin Price Drops to $101K, Where’s the Bottom? appeared first on CryptoPotato.
Bitcoin’s price continues dropping while altcoins are having it even worse. AA News, BTCEUR, BTCGBP, BTCUSD, BTCUSDT, Crypto News, Bitcoin (BTC) Price
This articles is written by : Nermeen Nabil Khear Abdelmalak
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