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Bitcoin drops to

Bitcoin drops to $34k continuing bearish cycle

Bitcoin drops to $34k per unit continuing the bearish cycle in the whole crypto market. The flagship currency has lost 17% of its value over the last week and 48% down from its all-time high. The whole market is waiting for this carnage to end.

The whole crypto market is in a state of shock as the RSI indicator shows oversold status for BTC. The whole crypto market has lost 11% over the last 24h. Since December 27, 2021, BTC has been in a bearish cycle. Before this cycle, the flagship currency was trading at $52k but now it has lost more than 32% against the US dollar. From the start of this weekend, Bitcoin drops to its lowest point of the year so far.

Bitcoin drops to $34k:

According to the data from CoinMarketCap, In the last 24 hours the range of the BTC has been from $39,177 to $34,000 per unit. Bitcoin dominance also took a serious hit after this nosedive which caused billions of dollars out of the crypto space. The dominance of the BTC is 39.5% which is better by 5.33% than it was on January 6, 2022. Bitcoin drops to the $34k price mark but it took the rest of the market with it.

Bitcoin drops to

Ethereum dominance, on the other hand, has dropped to 17% and a myriad of other crypto assets shed lots of dominance percentages as well. Out of the top ten crypto assets, Polkadot (DOT) shed the most during the week, losing 32.1%.

Bitcoin drops to

Furthermore, Solana (SOL) is down 30.5% in seven days, and ethereum (ETH) has dropped by 24.6% since last week. BNB is down 23.9% and xrp (XRP) and terra (LUNA) are both down 21.2% over the last seven days. BTC and ADA saw the least amount of percentage losses this week as ADA shed 12.4% and BTC dropped 16.8%.

Read more here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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