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🚨 Why is the crypto market falling today? Bitcoin below $95,000! 🚨
Bitcoin surprises by plummeting 11.25% in 3 days! The world's largest cryptocurrency lost around $12,000 in value, now trading at $94,715. The drop caused a liquidation of $1.10 billion in the market, benefiting short traders while long traders face huge losses.
👉 El Salvador and the impact of the $1.4 billion loan
El Salvador, a pioneer in accepting Bitcoin as official currency, is negotiating a $1.4 billion loan with the IMF, but with one condition: change its policy towards Bitcoin. The country accepted the terms, which may have contributed to the market fall.
📊 Bitcoin market analysis
• After reaching a new all-time high of $108,364 on December 17, BTC fell 12.74%. • On the 4-hour chart, the RSI is below 30, suggesting a possible rebound soon.
• On the daily chart, there is a divergence pattern between the price and the RSI, which already indicated this correction.
💥 The impact on the crypto market
• The market lost 9.31% of its capitalization, which now stands at $3.21 trillion.
• More than 334 thousand traders were liquidated in the last 24 hours, totaling losses of $1.10 billion.
• The biggest loss came from the ETH/USDT pair, with liquidations of $15.80 million.
📈 What to expect?
The community believes that BTC can hold the fall and start a recovery. Meanwhile, whales are taking advantage of the situation to accumulate on the decline. However, if the price falls below the current support, it could reach $91,900, close to the 20-month moving average.
Bitcoin surprises by plummeting 11.25% in 3 days! The world's largest cryptocurrency lost around $12,000 in value, now trading at $94,715. The drop caused a liquidation of $1.10 billion in the market, benefiting short traders while long traders face huge losses.
👉 El Salvador and the impact of the $1.4 billion loan
El Salvador, a pioneer in accepting Bitcoin as official currency, is negotiating a $1.4 billion loan with the IMF, but with one condition: change its policy towards Bitcoin. The country accepted the terms, which may have contributed to the market fall.
📊 Bitcoin market analysis
• After reaching a new all-time high of $108,364 on December 17, BTC fell 12.74%. • On the 4-hour chart, the RSI is below 30, suggesting a possible rebound soon.
• On the daily chart, there is a divergence pattern between the price and the RSI, which already indicated this correction.
💥 The impact on the crypto market
• The market lost 9.31% of its capitalization, which now stands at $3.21 trillion.
• More than 334 thousand traders were liquidated in the last 24 hours, totaling losses of $1.10 billion.
• The biggest loss came from the ETH/USDT pair, with liquidations of $15.80 million.
📈 What to expect?
The community believes that BTC can hold the fall and start a recovery. Meanwhile, whales are taking advantage of the situation to accumulate on the decline. However, if the price falls below the current support, it could reach $91,900, close to the 20-month moving average.
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