The crypto economy fell 3% overnight, Bitcoin fell below $46,000, and analysts said “downward forces are still strong” – Bitcoin News

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The crypto economy has fallen by 2.9% in the past 24 hours, and Bitcoin fell below the $46,000 price range on Monday. In addition, on the last day after the price of Bitcoin fell, the value of the top ten digital currencies fell by 3% to 7%.

The top ten cryptocurrencies lose more, and the crypto economy has fallen by nearly 3% in 24 hours

The price of Bitcoin (Bitcoin) It was down 3.7% today, and the transaction price per unit at the time of writing was $45,738.So far this year, the value of Bitcoin has risen by more than 90% in the past 30 days Bitcoin A decrease of 21.8%. Currently, Bitcoin The market value is approximately US$864 billion, accounting for 38.6% of the US$2.24 trillion crypto economy.

Bitcoin/USD passed Bitstamp on December 20, 2021.

In terms of market valuation, the second largest crypto asset is Ethereum (Ethereum) Fell 4.4% in the past 24 hours and fell 8.7% on the last day. At the time of writing, the trading price of Ether is $3,787 per unit. Today, Ethereum’s dominant position among other tokens in the $2.24 trillion crypto economy is 20%. on Monday, Ethereum The total market value is $448.8 billion.

Ethereum/USD passed Deribit on December 20, 2021.

Four tokens have successfully risen in the past 24 hours, including Year Finance (YFI) up 6.5%, olympus (OHM) up 3%, okb (OKB) up 2.8% and leo token (LEO) up 2.1%. The biggest losers on Monday included Curve Road Token (CRV) down 10%, Compound (COMP) down 10.5%, and Waves (WAVES) down 10.2%. Of the 11,836 cryptocurrencies traded on 533 exchanges around the world today, the global trading volume is 102.8 billion U.S. dollars.

Huobi Group executives: “Downward forces are still strong-focus on downward forces”

In a conversation with Du Jun, co-founder of Huobi Group, Jun said that Bitcoin began to fall after breaking through the $48,000 area last weekend. “According to data from Huobi Global, Bitcoin It started to fall after reaching a high of 48,300 over the weekend,” Jun told our news station. “It is now around 46,000, and the downward trend is relatively stable. It is possible to further break through the 45,500 pressure level. From the 4h K line, the price is still in a steady downward channel. DIF crosses DEA to form a downstream signal.

“The K-line runs near the lower rail of the Bollinger Bands, and the trading volume is relatively low,” said a Huobi Group executive. “From a daily perspective, price fluctuations have gradually slowed down in recent days, and price fluctuations are temporarily controllable. In the short-term, focus on the downward momentum and the breakthrough of the 45500 position below.”

Jun further added:

[Ethereum] It fell steadily during the day, from a high of 3980 to a low of 3760, and is now close to 3780. Judging from the 4hk line, today’s k-line fluctuates greatly, which has changed the stability of the past few days. However, it is not difficult to see from the daily line that the decline is pulling the K line back to the downward channel, indicating that the downward force is still relatively strong. In the short term, look at the magnitude of price declines.

Tags in this story

USD 45,000, USD 46,000, Bitcoin, Bitcoin (BTC), Crypto assets, Crypto market, Digital currency, Du Jun, Ethereum, ether, Ethereum (ETH), Huobi Group, Market value, Market outlook, market price, Market dynamics, market, Price drop, price

What do you think of the recent price decline of the entire crypto economy and the prospects of Huobi Group’s Bitcoin and Ethereum? Please tell us your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the head of news at Bitcoin.com News and a fintech reporter living in Florida. Since 2011, Redman has been an active member of the cryptocurrency community. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 4,900 articles about destructive protocols emerging today for Bitcoin.com News.




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