Name Price24H (%)
Bitcoin (BTC)
$42,322.00
-7.55%
Ethereum (ETH)
$2,963.35
-7.86%
XRP (XRP)
$0.93
-6.56%
Litecoin (LTC)
$156.42
-6.60%
Crypto Markets Suffer Heavy Losses, Bitcoin Price Sinks More...
Market Analysis

Crypto Markets Suffer Heavy Losses, Bitcoin Price Sinks More Than 25% in 24 Hours

Since the bitcoin price height on Sunday, January 10, bitcoin’s price plummeted over 25%, seeing the largest price dive of the year. The entire crypto market cap has dropped below a trillion to $823 billion losing roughly 9.9% in value during the last 24 hours.

Cryptocurrency markets have suffered significant losses during the last 24 hours, crypto assets have lost anywhere between 15% to over 35%. The leading digital asset by market valuation, bitcoin (BTC) is down over 20% at the time of publication.

Bitcoin (BTC) dropped to a low of $30,261 on Monday afternoon (EST) losing 25.2% after reaching a high of $41,056 on Sunday. At the time of writing, BTC is swapping for prices above $32k per unit with $38 billion in global BTC trade volume.

  • Ethereum (ETH) is swapping for $933 per unit after reaching well above the $13k handle the day prior, the crypto asset is currently down 27%.
  • XRP took a 15% loss as it trades for $0.27 per token and bitcoin cash (BCH) is down 30% today. Now, bitcoin cash (BCH) is changing hands at $413 per unit.
  • CTXC which has lost 47% is the biggest losing token today in the crypto economy. Following CTXC, coins such as DMT, BCD, RCN, and MKR.
  • The biggest gainers today are up between 8% to 91% on Monday with the token stakenet leading the pack. This is followed by other crypto-assets that have seen gains on Monday including STK, ZEN, MXC, and DAG.

The CME bitcoin futures chart now has an upside gap

“Not only are we continuing to see institutional investment, but bitcoin being held on exchanges is decreasing as investors move their tokens to wallets, with Glassnode data showing an increasing level of illiquid bitcoin as more and more investors hodl.” – Simon Peters, an analyst at Etoro wrote. “Despite the dip yesterday— we are still in a healthy position,”. “I believe we can look to the $70,000-90,000 range as a price target for the end of 2021,” Peters said.

<Source: Bitcoin News>

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