The trading session on November 21 continued to witness strong selling pressure across the entire cryptocurrency market when Bitcoin fell about 11% in just one day and fell to $80,700, while Ethereum fell to its lowest level in 4 months.
The decline occurred in the context of investors fleeing risky assets. Although Bitcoin later recovered to the $ 83,000 / BTC area, many people are still worried that the downtrend will continue.
Bitcoin has just entered its sixth consecutive week of decline, becoming the longest losing streak since the “crypto winter” of 2022. Compared to the historical peak of $125,300 reached on October 7, Bitcoin price has now dropped nearly 37%, causing the market capitalization to lose about $890 billion in just under six weeks. The current capitalization value is more than $1,600 billion.
Bitcoin trading volume in 24 hours reached nearly 128 billion USD, a record high in many months. The fact that many investors using large leverage on derivatives exchanges were liquidated in large numbers further strained market sentiment.
Since the beginning of November, Bitcoin has broken through important psychological milestones: 110,000 USD (November 3), 100,000 USD (November 14), 90,000 USD (November 20) and now the 80,000-82,000 USD zone. Each time a strong support level is broken, investor sentiment drops, leading to a new sell-off.
Not only Bitcoin, a series of other altcoins are also in a state of "free fall". Ethereum has decreased by more than 30%, Solana has lost nearly 40%, and tokens such as Cardano (ADA), Chainlink (LINK) or tokens belonging to the Cardano (ADA), Chainlink (LINK), Polkadot (DOT) system have all decreased by 10-15% in just the past 24 hours. The Fear & Greed market sentiment index also dropped to 11 points.
Source: https://baovanhoa.vn/kinh-te/nhung-dong-coin-nao-dang-roi-tu-do-183344.html
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