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Bitcoin slides

Bitcoin slides to a 6-week low as the whole crypto market became bearish

Bitcoin slides to a 6-week low of under $55k in just a few hours. The rest of the crypto market followed the flagship currency into the slump. The data suggest that hourly liquidation exceeded $300 million.

The Crypto market is all about risk-taking because the speculation of the market can take away all of your investment in hours or a day. You can have all the technical knowledge and experience in trading but a single piece of news can blow all of it away. Yesterday, the flagship currency surpassed the $59k price mark in days and aimed at $60k. BTC has been trying to cross the $60K price mark but it wasn’t successful.

Bitcoin slides
The price chart of BTC by Tradingview

Bitcoin slides to a 6-week low price:

The price of BTC retraced from $59k to $58k and stood there for a while. After that Bitcoin slides to a 6-week low in no time. The price of the flagship currency was down more than $3k in an hour. The primary currency dumped below the $55k price mark for the first time since October 13. There is a rumor that bitcoin slides to a 6-week low due to emerging of a new COVID variant. The whole crypto market started a downward movement.

The second-largest crypto asset saw a decline of 5% in its value. Solana, Polkadot, Dogecoin, Avalanche, CRO, Litecoin, and Ripple have lost even more substantial chunks of value – between 9% and 15% in 24 hours. The data shows that liquidation reached $300 million in an hour and over $600 million on a daily scale.

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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