Bitcoin Dips Below $ 33,000, Analyst Says BTC At ‘Dangerously Low Levels’ While ETH Sits At ‘Comfortable Levels’ – Bitcoin Planet Market News


Bitcoin and a number of popular digital assets have fallen in value over the past 24 hours, with bitcoin falling below $ 33,000. The total market capitalization of all 10,000 existing crypto assets has lost billions during the overnight trading sessions, and the crypto economy currently sits at $ 1.38 trillion, down more than 6% since. yesterday.

Crypto Market Cap Loses 6%, Ether Dominance Rises Higher

Traders are focusing on what will happen next in the land of crypto markets as prices have started to fall after a long period of consolidation. At 7:00 a.m. (EDT), the price of bitcoin (BTC) slipped to a low of $ 32,100 per unit, but regained some of the losses. 24 hour statistics show BTC lost 6.4% in the last 24 hours and 2.87% in the last seven days.

BTC is 49.64% down from the all-time high reached three months ago. Meanwhile, bitcoin’s dominance fell to 44.3% and ethereum (ETH) dominance has increased in recent times (18.3%). BTC Currently trading for $ 32,518 per unit at the time of writing.

Ethereum occupies the second largest position in terms of market capitalization on Thursday with $ 251 billion. ETH slipped over 9% today, but over the past week, ETH is up just over 2%. At the time of going to press, Ether is trading for $ 2,155 per unit and represents nearly $ 8 billion in global 24-hour trade volume.

Bitcoin Dips Below $ 33,000 Analyst Says BTC At 'Dangerously Low Levels' While ETH Sits At 'Comfortable Levels'

Out of the entire list of top ten crypto coins, cardano (THERE IS) managed to contain the losses. THERE IS lost 5% today, but the crypto asset is up more than 3% in the past seven days. The biggest winner on Thursday is hyperion (HYN) which is up over 73% and the biggest loser is the TEAM tokenstars which is down 53% in the last 24 hours.

Alex Kuptsikevich: “Bitcoin is at dangerously low levels, while ether sits comfortably”

In a market update note sent to Bitcoin.com News, Alex Kuptsikevich, senior financial analyst at Fxpro explained that “bitcoin is at dangerously low levels.” Kuptsikevich said there has been a summer lull in the crypto markets lately, but maybe it was just “the calm before the storm.”

“In the last 24 hours Bitcoin has lost 7% and is trading around $ 32.3,000,” Kuptsikevich said. “The price dynamics of the first cryptocurrency with seriously reduced transaction volumes is seen as a worrying sign. After all, if the market is affected by a small number of open positions, then any small storm could turn into a sell-off, disrupting an avalanche of stop orders. Current levels close to local lows of the past two months make us eagerly watching for further moves. Kuptsikevich continued:

The first cryptocurrency’s drop below $ 30,000 is likely to trigger a new wave of liquidation. But the most alarming thing for crypto enthusiasts is that such a result will underscore the protracted nature of the correction, increasing speculation around a new ‘crypto winter’ like in 2018.

Kuptsikevich said whether or not a “crypto winter” comes together, we’ll find out soon enough. Although BTC is resting at dangerous levels, the ether is at “a fairly comfortable level”. “The project is steadily moving along the roadmap of the PoS transition. Developers are trusted by market players, and Goldman Sachs recently called ethereum more promising than bitcoin, ”added the market analyst.

What do you think of the movements in the crypto market today? Let us know what you think of this topic in the comments section below.

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there is, Alex Kuptsikevich, Bitcoin (BTC), bitcoin analyst, BTC, Cardano, Comfortable levels, Crypto markets, Crypto winter, ETH, ether, Ethereum (ETH), Senior Financial Analyst Fxpro, Low levels, Market update, Markets, markets and prices, Point of sale

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