On Monday, December 11, the price of Bitcoin immediately dropped to $40,411 (on the Binance exchange). Over the past 24 hours, the asset has fallen in price by 4.6%, according to CoinGecko.
The current price is $41,883. The chart below shows that the downward movement is accompanied by a surge in trading volumes.
The fall provoked a wave of liquidations – $400 million worth of positions were forcibly closed in one day, according to Coinglass.
Following the flagship, assets from the top 10 by capitalization moved into the “red zone”. Ethereum has lost 4.9% and is trading below $2,240 at the time of writing. The largest declines are shown by XRP and Cardano (-7.1% and -8.9%, respectively).
Some community members wondered if the next milestone would be $38,000.
Quick flash dump to 40k this morning. $350 million longs got wiped out in the process
👉 38K next?.#NFA #Bitcoin $Btc pic.twitter.com/p0kwiSaEKR— Marius.capital (@AltbriMarius) December 11, 2023
Experts previously interviewed by ForkLog shared their opinions on the reasons for the rally of digital gold and spoke about the prospects for growth of quotes to $52,000.
Let us remind you that CryptoQuant experts assumed the possibility of a breakout in the price of Bitcoin at the $50,000 level at the beginning of 2024.
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2023-12-11 06:37:47
#Bitcoin #falls
