Cryptocurrency under attack: why Bitcoin collapsed to a critical level
Фото: Pixabay
Bitcoin has experienced a sharp weakening – its value fell to $104,324 amid a massive sell-off in the cryptocurrency market.
Data from the Binance exchange shows that after the initial drop, the rate is gradually trying to recover, but is still near critical support.
Bitcoin has lost more than 5% in the past 24 hours, and is down nearly 14% in the past week. The market capitalization has fallen to approximately $2.09 trillion, and the daily trading volume has exceeded $102 billion.
The reason for the sharp movement was the activity of sellers after Bitcoin previously rose above $125,000. Analysts attribute this market behavior to concerns about liquidity, growing macroeconomic uncertainty, and increased risk in financial markets.
Recall that on October 5, the value of Bitcoin (BTC) set a new record and increased by almost 2.7% – to $125,245 .
Meanwhile , gold prices hit a new all-time high on Friday, October 17, surpassing $4,300 an ounce . Such a jump in value could make this week the most successful for the precious metal in 17 years.
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