Like most cryptocurrency markets, Bitcoin (BTC) has seen a price adjustment today.
Amid concerns of sell-offs by users of the bankrupt crypto exchange Mt. Gox, who are soon to receive their reimbursements, market panic is palpable. The portfolio of the German government, holding over $2.6 billion in crypto, seems to have started transferring its tokens, contributing to the bearish outlook.
Bitcoin briefly fell below $60,000, but at the time of writing, it has recovered to a price of $60,350, with a 4.2% decline over the last 24 hours and a trading volume of $25.7 billion. The market capitalization of BTC now stands at $1.18 trillion.
A one-day technical analysis on TradingView shows an extremely pessimistic picture – the summary suggests “sell” with 14 signals, the moving averages indicate “strong sell” with 12 signals, and the oscillators with 2 signals.
Read more:
Recent Bitcoin price warnings
Ethereum also saw a significant drop of 4.4% over the last day with a trading volume of $12.65 billion and is trading at $3,295.
The total market capitalization of the market decreased by 3.78% to $2.23 trillion.
In the last 24 hours, $163.79 million was cleared from the cryptocurrency market ($142.23 million in longs and $21.56 million in shorts).
The biggest loser is Bittsensor, which fell by 13.6 to $235 following news of a recent hack.
