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October 2, 2022
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There was a sharp correction in the market. Bitcoin drops below $ 45,000

On February 23, Bitcoin (BTC) recorded a record loss. Sales pressure brought markets below $ 47,000 for the first time in more than a week.

Acute correction

In the last 24 hours, the crypto market has once again shown its highly volatile nature. The price of the flagship cryptocurrency has dropped by more than $ 12,000. Most altcoins have also joined the southern rally, and the cryptocurrency market capitalization has lost more than $ 260 billion overnight.

The crypto market is said to have “no boring days”. We have received confirmation of this in the last 24 hours. This time, however, in a negative sense. Bitcoin had just painted its latest all-time record above $ 58,400, but things changed in just a few hours.

BTC headed south briskly and lost over 12,000 in value. Shortly after this massive drop, the bulls took the lead and pushed cryptocurrencies back to $ 55,000. Bitcoin, however, was unable to sustain a rebound and fell below $ 50,000 again, hitting the bottom of $ 45,000. At the time of writing, the major cryptocurrency has recovered some value and is trading at around $ 49,000.

Ultimately, BTC’s market capitalization decreased by over $ 100 billion in one day.

Altcoins on the edge

As is usually the case in a sharp correction, most of the alternative coins perform even worse than their leader. Ethereum has dropped to below $ 1,400. As a reminder, the second largest cryptocurrency over the weekend set a new ATH above $ 2,040.

Binance Coin, which also recently jumped to new highs around $ 350, fell below $ 200. Cryptocurrencies from the top ten that also recorded significant losses include, among others Polkadot (-8%), Cardano (-5%), Ripple (-12%), Litecoin (-15%), Chainlink (-17%).

Current Bitcoin rate and other cryptocurrencies, you can always check the tabs: exchange rate Bitcoin and the cryptocurrency rate on the website . A place where you can buy BTC and more coins, include cryptocurrency exchange BitBay.net. If you do not have an account on BitBay yet, from this article you will learn how to efficiently create one: LINK.

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