The price of Bitcoin ($BTC ) started the week with a sharp drop. On Monday morning, January 19, the price of the first cryptocurrency plummeted from $95,500 to $92,500 in just a few hours. The decrease over 24 hours amounted to 2.6%.
The price of Ethereum ($ETH ) over the past day dropped even more sharply - by 3.2%. As of 10:40 MSK, the leading altcoin is trading around $3,200.
Traders who bet on the growth of cryptocurrencies lost $871 million due to the decline in prices over the day, according to Coinglass. Of this amount, $787 million was in short positions. This refers to the nominal value of positions taking into account leverage (a position of $100 with 10x leverage counts toward the total loss amount as $1000), but even with this adjustment, the scale of losses remains significant.
The total market capitalization of cryptocurrencies has decreased by 2.92% over the past day, to $3.13 trillion. Among the top 10 coins, Cardano (ADA) has fallen the most – by 8%. Among the top 100 cryptocurrencies, the largest decline is seen in Pudgy Penguins (PENGU) – by 13%.
The strongest growth was shown by the privacy coin Decred (DCR) – in 24 hours it rose by 19%. Other anonymous cryptocurrencies are also among the leaders in growth – Dash (DASH) increased by 13%, Monero (XMR) rose by 8%.
The Fear and Greed Index in the cryptocurrency market has returned to the 'fear' zone, indicating 44 points out of 100. This mark borders on the neutral range but suggests that market participants are again more inclined to sell cryptocurrencies than to buy them.
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