On the evening of Friday, April 12, quotes of the first cryptocurrency dropped to $65,000. The next day, digital gold recovered to levels above $67,000.
15-minute BTC/USDT chart of the Binance exchange. Data: TradingView.
At the time of writing, Bitcoin is trading at $67,400. The total cryptocurrency market capitalization is below $2.6 trillion.
Following Bitcoin, other digital assets collapsed. Among the top 10 cryptocurrencies by capitalization, Dogecoin (-13.7%), Solana (12.6%) and XRP (-11.5%) lost the most during the day.
At the same time, Ethereum fell below the $3200 mark, Solana – $150, Toncoin – $6.
Data: CoinGecko.
According to Coinglassover the last 24 hours the volume of liquidations reached $937 million. Of this, $824 million were long positions.
Liquidation map. Data: Coinglass.
Previously, ex-CEO of BitMEX Arthur Hayes allowed Bitcoin to fall before and after the halving. At the same time, he called the event a bullish catalyst for the market in the medium term.
According to Ripple CEO Brad Garlinghouse, in 2024 the total capitalization of digital assets will double and exceed $5 trillion. His optimism is related to spot Bitcoin ETFs and halving.
Let us remind you that Morgan Creek Capital CEO Mark Yusko predicted the rise of the first cryptocurrency to $150,000 by the end of the year. He is confident that Bitcoin’s growth after halving will become “parabolic.”
Investor and billionaire Tim Draper has made an even more bullish forecast for the price of digital gold – $250,000 by the end of the year.
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2024-04-13 07:56:56
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