Crypto Economy Gets $ 100 Billion, Digital Asset Markets Recover Some Losses – Bitcoin News Market Updates

Digital currency markets have fallen in value in the past two days as more than $ 100 billion shaved off the entire crypto market valuation. Bitcoin slipped to its lowest point of the year at $ 28,800 per unit Thursday afternoon, and many crypto-assets also saw significant losses. Currently, as digital currency trading sessions roll into the weekend, the crypto economy has recovered some of the losses it suffered in the past few days.

Crypto Markets Seek Healing

In the last 48 hours, the leading cryptocurrency in terms of market valuation has slipped significantly in value. For example, two days ago the price of bitcoin (BTC) was exchanging hands for $ 35,900 a penny and on Thursday afternoon (EST), the price dropped to $ 28,800 per unit. That’s a total loss of -19.77%, but BTC’s markets have rebounded ever since and managed to climb right back over the $ 30k handle.

At the time of publication, bitcoin (BTC) is trading at prices ranging from $ 32,200 to $ 32,800 a penny and has a touch over a $ 600 billion market valuation.

Crypto Economy Gets $ 100 Billion, Digital Asset Markets Recover Some Losses
The price of bitcoin (BTC) touched a new 2021 bottom touching $ 28,800 per unit on Thursday. Since then, BTC and a series of other digital assets have recovered some of the losses. (BTC / USD chart on January 22, 2021, @ 10:30 am EST on Bitstamp via Bitcoinwisdom.io. Currently, BTC is exchanging for $ 32,500 per unit during Friday’s crypto trading sessions.

On Friday there is over $ 28 billion in global BTC trade volume, with a lead (USDT) grabbing 52% of all bitcoin trades today. BTC has shed over 13% during the week, but is still up 35% for the past 30 days. Over the 90-day span, BTC has gained 140% and 275% against the USD for 12 months. Following BTC’s lead is ethereum (ETH), as each ether is trading for $ 1,240 per unit. ETH’s market cap is currently hovering at around $ 140 billion during Friday morning trading (EST) sessions.

Behind a tedious market valuation (USDT) is a polkadot (DOT) that trades at $ 17.36 per DOT. As of January 22, XRP is currently trading at $ 0.27 per ticket and holds a $ 12 billion market capitalization. XRP is followed by cardano (ADA $ 0.34), litecoin (LTC $ 140.81), chain link (LINK $ 21.37), bitcoin cash (BCH $ 448.74), and binance coin (BNB $ 40.57).

Crypto Economy Gets $ 100 Billion, Digital Asset Markets Reclaim Some Losses
Bitcoin BCH / USDT cash chart (lead) on January 22, 2021, @ 10:30 am EST on Exchange.Bitcoin.com.

Bitcoin cash has a market valuation of approximately $ 8.1 billion and is down 12% over the past seven days. During the month, BCH is up 56% and 56% for the 90-day span as well. Against the US dollar in the last 12 months, bitcoin cash (BCH) is up 32%.

Institutional Taste for Bitcoin

In a note to investors, Etoro crypto analyst Simon Peters spoke about bitcoin’s (BTC) recent price movements and volatility. Peters said lower prices could be “on the cards” but the analyst “doesn’t think it would last as long, [as] the cat is out of the bag with bitcoin. “

“This price movement is a perfectly natural correction, one that occurs in all assets once the market has considered them a bit over-thought,” Peters wrote. “And while the price is falling, sitting at just over $ 31,000 at the time of writing, the demand for bitcoin is not.”

Etoro’s crypto analyst added:

Appetite among institutional investors continues to grow with people like Grayscale investment trust buying $ 600m of the crypto asset in one day this week and Blackrock, the world’s largest asset manager, announced that two of its funds will trade in future bitcoin derivatives.

Onchain Analyst Says Bitcoin Miners May Be Dumped

On Friday, Cryptoquant CEO Ki-Young Ju detailed that the recent sale could have been triggered by some mining pits selling. “This tip may have been started by BTC miners in F2pool,” a Cryptoquant executive tweets.

Crypto Economy Gets $ 100 Billion, Digital Asset Markets Recover Some Losses

The onchain researcher also shared charts of the deed that showed the Miners Position Index and the miner to exchange inflows. “I received these bearish warnings yesterday,” Ki-Young Ju added further. “Miners’ Situation Index exceeded 2.5, 569 people deposited BTC in one block (10 minutes), [and] 78 miners deposited BTC in one block (10 minutes). ”

Growing FUD

No one really knows what will happen from here in the realm of crypto assets and the growing economy. In recent weeks, much fear, uncertainty and doubt (FUD) has been circulating wildly while crypto-assets like bitcoin (BTC) have been bullish.

There has been considerable regulatory turmoil, uncertainty over the Biden administration, negative comments from Janet Yellen and Christine Lagarde, Mt Gox negotiations, environmental arguments over test work, tether argument (USDT), and recent Ledger customer data hack. Despite all the FUD, proponents of cryptocurrency still seem very optimistic about the future of crypto assets in 2021.

Want to look at all the crypto market actions with prices in real time? Check out our crypto market aggregator at markets.Bitcoin.com.

What do you think of the recent crypto price action? Let us know what you think of this topic in the comments section below.

Tags in this story

BCH, Bitcoin, Bitcoin (BTC), bitcoin cash, BTC, crypto assets, Cryptocurrencies, Cryptocurrency, Cryptoquant, Ethereum, FUD, Ki Young Ju, Market Cap, Market Update, Markets, Markets and Prices, Miners, Price, Simon Peters, Valuations, XRP

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