Crypto Correction Continues as Bitcoin Dives Below $44K (Market Watch)

As prices plummet across the board, the cryptocurrency market has made a dramatic turn in the last few days. BTC has fallen below $44K and most assets are trading in the red.

Bitcoin Prices Drop Below $44K

As cryptocurrency prices have fallen across the board, the past few days haven’t been very rewarding for holders.

Bitcoin fell to $42,727 per day on Binance. It rebounded a bit before reaching $43,000 and is currently trading at $43.5K.

Source: TradingView

This means that the cryptocurrency lost 7.5% over the week. However, most of it occurred in the last two days.

It is also worth noting the fact that there were almost $100 million worth worth of BTC positions liquidated in the last 24 hours. The majority of these positions are longs. This represents over 82% according to Coinglass data.

ltcoins painted red

As you can see in the heatmap below, the vast majority of altcoins trade in the red. As a result, the market has lost a significant amount of capital. The total market has shed $90 billion over the last 24 hours.

Source: Quantify Crypto

It is evident that Ethereum lost nearly 4%, LUNA – over 6.5%, Solana lost 7.2%, AVAX – 6%, DOT – 6% and so on in the last day.

There are exceptions, but they are not significant. MINA has risen 4% and Enjin (ENJ), almost 2% over the last 24 hours. These are the biggest gainers.

On the opposite side of the spectrum we have CELO, which is down 12.7%, and HEART, which is down 13.2%. These are the coins which lost the most.

Overall, the cryptocurrency correction seems to be getting worse, and it’s crucial for the market find support to stop further losses.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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