Bitcoin’s (BTC) price has fallen sharply in the last hour, dropping below the $70,000 support level. The steep decline can be linked to several factors, including robust US employment data and a decrease in GameStop’s share price, which has had a negative impact on the mood in the cryptocurrency market.
This dramatic decrease has led to the liquidation of more than $300 million from the cryptocurrency market within the past one hour.
Bitcoin Price Market Indicators
Consequently, the current crisis can be seen in Bitcoin’s market indicators. The Bitcoin Dominance metric, which indicates the percentage of the total cryptocurrency market capitalization that belongs to Bitcoin, rose by 1.04% to 53.69%. This indicates that although Bitcoin is going through a retracement, it is still performing much better than the rest of the cryptocurrencies.
Furthermore, the exchange reserve of Bitcoin fell by 0.06% to 1.81 million, suggesting that investors may be withdrawing Bitcoin to personal wa
We współpracy z: https://coingape.com/why-is-bitcoin-price-falling-sharply-today/
