BTC is down 10% in 24 hours to trade below the $ 50 level
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| Bitcoin & Cryptocurrencies lose more than $ 200 billion |
Bitcoin's decline is creating the event and sparking more mixed sentiment mixed with fear and optimism about Bitcoin's resurgence and continuing to hit record numbers.
Last Saturday, the $ 60,000 level was rejected, causing the Bitcoin price to collapse by nearly 14% in an hour.
While the markets rallied to near $ 55,000 for several days, the bulls failed to defend the range on Thursday, leading to the continuation of the bitcoin's bearish move over the past day.
As we indicated earlier on the Bitcoin News site that the massive profit-taking in bitcoin markets may indicate an imminent local summit, and today's recession appears to confirm the hypothesis.
Likewise, analysts at JPMorgan warned of continued bearish movement in case BTC fails to regain the $ 60,000 level.
Ethereum has also fallen today, down nearly 11% over the past 24 hours.
However, Ethereum has outperformed Bitcoin in recent days, climbing to an all-time high above $ 2,600 on Thursday.
The ETH / BTC trading pair saw its highest levels on Thursday, trading at its strongest level since August 2018, with Ethereum trading against 0.047 BTC.
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