Today, May 10, the price of the first cryptocurrency suddenly fell below $ 9,000, breaking the uptrend. At the time of writing, BTC is trading around $ 8,600.
The chart below shows that a sharp decline in prices was accompanied by a significant surge in trading volumes:
Bitstamp four-hour BTC / USD chart
–
According to Rek.to, the volume of liquidations on the popular BitMEX crypto-derivative exchange against the backdrop of a collapse in prices almost reached $ 300 million.
It is noteworthy that a sharp drop in the price of BTC occurred on the eve of the halving of the block reward, to which less than two days remained.
“By tradition,” the first cryptocurrency pulled down almost the rest of the market. So, for example, the top ten CoinMarketCap looks at the time of writing:
As can be seen in the screenshot, the vast majority of crypto assets dipped by more than 10% in the last day.
The total market capitalization is around $ 236 billion, the BTC dominance index is 66.9%.
Note that the opinions in the crypto community about the impact of the upcoming halving are ambiguous. So, early bitcoin investor Charlie Shrem is sure that halving the reward for the block mined by miners is a positive signal for digital gold, the effect of which, however, will not immediately appear.
The experts of the Santiment analytical platform, who recently forecasted the sale of large players amid hyip around the halving, have a completely different opinion.
Subscribe to ForkLog news on Telegram: ForkLog Live – the entire news feed, ForkLog – the most important news and polls.
–
Found a mistake in the text? Highlight it and press CTRL + ENTER
subscribe to news Forklog
– .
