Crypto money markets are faced with harsh decreases that have recently been uneasy of investors. Bitcoin (BTC) lost critical support levels and went below $ 80,000. Ethereum (ETH) lost 9 %with a large sales pressure. However, despite all this negative picture, some subcoins said challenging the market and increased. Especially Move attracted the attention of investors with a 8 %leap. So, what’s the reason for this fluctuation in the markets? Will the hard decline in Bitcoin and Ethereum continue? As Kriptokoin.com, we transfer the details.
Price decrease in Bitcoin (BTC) continues!
Bitcoin decreased by 3 %in the last 24 hours to $ 79.974. This decrease is particularly linked to macroeconomic uncertainties in the United States and a decrease in the risk appetite in the markets. Investors escaped from risky assets for fear of recession, while Bitcoin had their share of this wave of sales.
The BTC’s down to $ 80,000 is seen as a critical signal in terms of technical analysis. If the price continues to remain at this level, more sales pressure may come, and the probability of Bitcoin to hang below $ 78,000 may increase. However, some analysts think that this level may be an opportunity for large institutional purchases.
9 %collapse in Ethereum with Bitcoin: Defi and NFT market shaken
Ethereum suffered a harsh decline. ETH fell to $ 1,873, losing more than 9 %in the last 24 hours. This sudden collapse directly affected defi projects and the NFT market. In particular, the closure of large liquidity providers can create more fluctuations in the price of Ethereum.
Behind the decline of Ethereum, in addition to the overall collapse of the market, the major investors come out of risky positions. If ETH hangs below $ 1,850, there is a risk of falling to $ 1,750. However, these levels can also be considered as a purchase opportunity for long -term investors.
Altcoins are also losing blood: Solana and XRP took a big blow
The decreases in Bitcoin and Ethereum had a harshly affected the Altcoin market. Solana (left) and XRP have lost between 5 %and 10 %in the last 24 hours. This shows that investors quickly depart from risky assets and turn to Bitcoin or Stablecoins, which are seen as a safe port.
Especially in the Solana ecosystem, great liquidity losses are experienced. The price below the price of $ 100 shows that a larger correction movement may be at the door. On the XRP side, critical support points are tested and more volumes are needed for bulls to recover the market.
Move Token challenges the market: 8 %rise!
Despite the general decline in the market, Move Token attracted attention with its rise. Move, which gained 8 %in the last 24 hours, has attracted the attention of investors. So, what’s behind Move’s rise?
Analysts interpret the rise of Move as a technical leap. The sales wave of sales in large subcoins may have directed investors to projects with less known but high potential projects. Will Move’s rise be permanent, or is it just a temporary rise? The coming days can be critical for Move.
