Bitcoin tests the level of 42 thousand dollars
In the past 24 hours, the asset fell to a 17-day low of around $42,000.
Currently, most altcoins are also deep in the red, with most losses coming from Terra, Solana, Avalanche, Cardano and Dogecoin.
Bitcoin tests the level of 42 thousand dollars:
It was only a few days ago when Bitcoin was struggling to recover the $47,000 level and rose twice above that level in the space of 48 hours.
Both attempts were quickly rejected, but the second was met with a more violent correction.
Initially, Bitcoin fell to $45,000 before going further and back down to $43,000 and then the current $42,000.
As of the time the article was published, the cryptocurrency stands a few hundred dollars above that particular line, above the total market capitalization of $800 billion.
Altcoins turn red:
Similar to Bitcoin, most altcoins are turning red today.
Ethereum is among the worst affected losers as the second largest cryptocurrency fell to $3,200.
It is worth noting that Ethereum hit a three-month high above $3,500 just a few days ago.
Binance, Ripple, Polkadot, Shiba Inu and CRO are down less than 5%.
In contrast, the prices of Cardano, AVAX and Dogecoin are down more than 5% since yesterday.
Solana is down 9% and struggling at $110 after failing at $130 earlier this week.
Cryptocurrency Terra also fell below $95.
The decline in bitcoin and altcoins made the total market cap lose about $200 billion in four days.
This means that the measure has fallen below the coveted $2 trillion line for the first time since late March.
Posted using Proof of Brain