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Ethereum Slides To $2K While Bitcoin Calms Down At $33,000

Ethereum slides to $2K while Bitcoin calms down to $33,000 but the danger is still looming while other coins are gradually losing value so let’s read more in our latest Bitcoin price news today.

After a few days of adverse price developments, BTC calmed down at $33,000 while most alternative coins continued registering price losses with ETH sliding to $2200 again and XRP dumping more than 5% in one day. The workweek was going in BTC’s way for a few days as it spiked above $40K to a new 26-high at $41,375 as the community started preparing for a new leg up that can take the asset to $50,000 or higher while the bears regained control and BTC started losing.

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BTCUSD. Source TradingView

In the upcoming days, the cryptocurrency fell below the round-numbered price lines which resulted in yesterday’s low of below $35,000 which means that BTC lost more than $6000 in a few days. Since then, the asset reclaimed ground and trades a few hundred dollars above the line but it seems stagnant so far and calm with the danger being around the corner still. From a technical standpoint, the death cross transpired with the history suggesting that more bearish trading is upcoming. On the other side, the FUD is coming from different places with the UK Bank planning to cease doing business with the two of the biggest players in the industry Binance and Kraken.

Cryptocurrency Market Overview. Source Quantify Crypto
Cryptocurrency Market Overview. Source Quantify Crypto

The alternative coins performed worse than BTC did over the past few days. Ethereum slides to $2K as it lost over $400 of its value in a few hours. Binance Coin has lost quite a bit as well and it is now beneath $340 while the situation with the other larger-cap altcoins is similar. On a 24-hour scale, Rippel dropped by 5% to $0.75, Cardano dropped by 1.5%, DOGE  by 3%, and Uniswap by 2%. Apart from Amp which spiked by 20% since a day ago, most of the other smaller cap coins bled out as well. Quant leads the trend with an 8% drop, THETA dropped by 7%, and ThorCHAIN by 6%. The market capitalization of all crypto assets remained below $1.5 trillion as well.

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Author: Stefan

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