Since the price increase from $42,000 to $45,000, Bitcoin price today suddenly dropped sharply to $40,800 and then slowly recovered.
After just over a day since it increased past the $45,000 mark, Bitcoin price on the evening of January 3 suddenly plummeted. According to CoinMarketCap data, Bitcoin price fell below the $40,800 mark before gradually recovering to $42,500.
Bitcoin price today: More than 50 billion USD in capitalization was blown away
In the past 24 hours, Bitcoin price has dropped around 8%, erasing all the profits investors have made since the beginning of the week. The capitalization of the world’s most valuable digital currency has also shrunk to $832 billion, or more than $50 billion.Notably, Bitcoin’s fall caused 183,000 derivatives trading accounts to be liquidated in the past 24 hours with a total value of about $628 million.
Bitcoin’s falling inertia even has consequences for other digital currencies on the market. Except for stablecoins, the digital currencies in the group of 10 largest coins in the world all recorded large adjustment ranges, typically Ethereum decreased by 9%, Solana decreased by 14%, XRP decreased by 13%, Cardano decreased by 12%, Avalanche decreased by 13%, Dogecoin decreased by 12.6%. Binance coin alone only decreased by 1.65%.
Bitcoin’s recent positive developments appear as the day the US Securities and Exchange Commission (SEC) must make an official statement about the Bitcoin spot ETF is approaching. The market has high expectations that the regulator will approve this fund on January 10.
However, speaking to Bloomberg, Matrixport analyst Markus Thielen said that the SEC will reject all Bitcoin ETF proposals this month as recent applications still do not meet the requirements set by the regulator. proposed reason. Investor sentiment is one of the reasons behind the sell-off.
Related: Spot Bitcoin ETFs Will Boost Institutional Investment: CBOE Predicts
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