The last 24 hours have become very tense for cryptocurrency investors. After two months of stability, the market experienced one of the worst sales this year. CoinMarketCap shows that in less than a day about 26 billion US dollars were lost.
Bitcoin not only dropped below $ 6,000, but also reached a level of $ 5,300, forming a new annual minimum. Digital asset fell by more than 12%.
Such a devastating fall came as a surprise to many; Bitcoin pulled the entire market down with it. So Ethereum fell by 13%, XRP – by 9.19%, and Bitcoin Cash – by 8.63%.
Bitcoin is currently blocked in a narrow range with short-term support at $ 5,500. The immediate supply area of $ 5,700 will limit the correction, as 50 SMA and 100 SMA will impede growth to $ 5,742 and $ 6,000, respectively. Experts are confident that the current calm after the devastating storm will not last long.
And what do you think about the current situation?
