empty
10.11.2022 03:09 PM
Bitcoin drops to past lows amid crypto market slump

Bitcoin dived below $15,600 Wednesday night to Thursday for the first time since the end of 2020. Over the past 24 hours, BTC lost 9.5%. At the moment of writing, the coin traded at about $16,419. Bitcoin's market cap stands at $323.3 billion, or 38.84% of the total crypto market cap.

This image is no longer relevant

According to CoinMarketCap, yesterday BTC reached an intraday high of $18,584.

The leading cryptocurrency lost 18.57% of its value last week, with its weekly high being $21,464 and the weekly low being $16,729.

Bitcoin declined this weej following the news that Binance Holdings, Ltd. plans to acquire the FTX.com exchange. Changpeng Zhao, the founder and CEO of Binance, stated that FTX requested the company's help due to the significant liquidity crunch. "To protect users, we signed a non-binding letter of intent, intending to fully acquire FTX.com and help cover the liquidity crunch," Binance announced. The amount of losses FTX's clients have sustained is yet unknown.

However, Binance suddenly walked away from the FTX acquisition deal on Wednesday. The crypto exchange's CEO Sam Bankman-Fried said that hopes to save the company are fading.

BTC also came under pressure from the fall in the US stock market. On Wednesday, the Dow Jones Industrial Average fell by 1.95%, while the S&P 500 and the NASDAQ Composite decreased by 2.48%.

Since the beginning of 2022, analysts have increasingly noted the high level of correlation between US equities and digital assets as market players await the consequences of the conflict in Eastern Europe and the Federal Reserve's further policy moves.

Earlier, analysts at Arcane Research stated Bitcoin's correlation to tech stocks reached the highest level since July 2020.

Economists at TradingView estimated the level of correlation between the crypto market and the US stock market in the previous quarter at 70%.

Originally, the cryptocurrency was presented as a hedge against inflation and price fluctuations in regular financial markets, which makes Bitcoin's current situation rather ironic. The increased correlation between digital assets and the stock market has put the cryptocurrency's success into doubt.

Altcoin market

Ethereum, Bitcoin's main competitor in the crypto market, also declined early on Thursday, losing 9.7% yesterday and dipping below $1,100 overnight. At the moment of writing, ETH was trading at $1,184. The market cap of ETH stands at $141.9 billion, or 17.05% of the crypto market cap.

According to CoinMarketCap, over the past 24 hours, ETH hit an intraday low of $1,141 and an intraday high of $1,337.

Last week's worst performing cryptocurrency out of the top 10 digital assets was BNB, which declined by 1.43%.

ETH slumped by 19.19% on Wednesday in its biggest fall since May 2021. Over the past week, the leading cryptocurrency lost 24.46%.

Out of the top 10 cryptocurrencies by market cap, all coins suffered losses with the exception of some stablecoins. The worst performing assets were Polygon (-26.5%) and Cardano (-16.5%).

Over the past week, the worst performing cryptocurrency out of the top 10 was Solana (-49.23%).

According to CoinGecko, out of the top 100 cryptocurrencies by market cap, the biggest losers over the past 24 hours were FTX (-73.11%), Solana (-22%), and BNB Coin (-12.1%).

FTX also suffered the biggest losses over the past week, plunging by 90%.

The total cryptocurrency market cap tumbled by 9% to $874 billion.

The market cap has declined almost three-fold from November 2021, when it stood at more than $3 trillion.

Irina Maksimova,
Analytical expert of InstaForex
© 2007-2025
选择时间框架
5
分钟
15
分钟
30
分钟
1
小时
4
小时
1
1
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

推荐文章

3月12日美國市場新聞摘要

期貨因新關稅暴跌:Nike 和 Boeing 受創最重。恐慌指數上升 美國股市在四月開盤時大幅下跌。

Irina Maksimova 13:24 2025-04-03 UTC+2

特朗普對進口商品加徵10%關稅,市場陷入緊張,黃金和歐元飆升

經過動盪的交易環境後,儘管開盤動盪,但美國股市最終上漲,華爾街劇烈反彈。大部分的動能來自於最後幾小時的交易,而投資者急於在特朗普總統重大經濟宣布之前部署。

Thomas Frank 10:55 2025-04-03 UTC+2

100億美元:錯誤的代價。強生再次成為焦點

資產負債表的指標處於動盪狀態。航空類股下跌。

14:26 2025-04-02 UTC+2

4月2日美國市場新聞摘要

在唐納·川普發表關於關稅的演講前,市場參與者需要消化一系列的經濟數據。投資者密切關注他的宣布,就像等待一場重要的首映。

Natalia Andreeva 12:44 2025-04-02 UTC+2

100億美元:錯誤的代價?J&J再次陷入法律風暴

儘管投資者因唐納德·特朗普宣布新貿易關稅前的緊張情緒而緊繃,美國股市週二在關鍵的 S&P 500 和納斯達克綜合指數收盤上升。 最近幾週,金融市場經歷高度波動。

Thomas Frank 08:02 2025-04-02 UTC+2

2025年第一季度:市場見證自2022年以來最大幅度的利率下降

美國股市在2025年第一季度以下跌結束。標普500指數和納斯達克綜合指數錄得自2022年以來最弱的季度表現,受到環繞唐納德·特朗普新經濟策略的不確定性影響。

Thomas Frank 12:03 2025-04-01 UTC+2

4月1日美國市場新聞摘要

美國股市指數在當日交易中出現混合結果:S&P 500 上漲了0.55%,而納斯達克100則下降了0.14%。這種不確定性來自特朗普政府可能引入的新關稅。

Ekaterina Kiseleva 11:37 2025-04-01 UTC+2

黃金在危機中閃耀:全球動盪中錄得自1986年以來最佳季度表現

週一,由於美國總統川普的強烈言辭,全球市場陷入混亂,他暗示計劃將關稅措施擴展至幾乎所有國家。其言論加深了投資者對不斷升級的全球貿易衝突的焦慮,這可能會將世界經濟拖入衰退。

12:51 2025-03-31 UTC+2

3月31日美國市場新聞摘要

美國市場在本週開始時出現大規模拋售,原因是報復性貿易關稅的討論不斷升溫以及消費者信心惡化。投資者大量拋售股票,擔心白宮可能實施新的進口關稅。

Irina Maksimova 12:16 2025-03-31 UTC+2

黃金:新的危機之王?全球動盪中創下自1986年以來的最佳季度

在週一,美國總統唐納德·特朗普直言不諱地表示他計劃將關稅擴展到幾乎每個國家,這加劇了投資者對日益增長的全球貿易衝突威脅的擔憂,可能將世界經濟推入衰退,導致全球股市陷入混亂。 在總統專機空軍一號上與記者交談時,特朗普明確表示:不會有例外。

Thomas Frank 09:35 2025-03-31 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.