The crypto money market was hit hard by the other day, with a total market depreciation of over $ 30 billion. Leading cryptocurrency Bitcoin (BTC) lost $ 800 in about an hour, dropping even below $ 9,500 on some exchanges.
The Whole Crypto Money Market Has Fallen
The fact that BTC dropped so hard triggered that the leading 20 cryptocurrencies also experienced a minimum 5% decrease. The price decrease actually started as of 23.45 TSI. Having experienced a decrease of $ 800, BTC caused more than $ 100 million funds to be liquidity on the BitMEX stock exchange.
Such a sharp fluctuation of the price naturally led to an incredible reduction in the number of long or short positions on BitMEX and other futures platforms. Investors are not sure which way the cryptocurrency market will go for now, and this situation is seriously fearful.
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Looking at the top 100 cryptocurrencies, it is seen that 93 of them closed the day with losses. Tezos (XTZ), one of the most earning and rising cryptocurrencies of recent days, has an increase of 6.41% as of the writing of this article. Although the XTZ seems to be on the rise now, the sharp decline caused it to rasp over its 15% increase.
The fact that the cryptocurrency that gives a single green signal in the Top 20 is XTZ shows how bad the situation is. Although many analysts state that BTC is signaling a golden intersection, this sharp decline may cause investors to think more when making BTC investments.
