Back to News

Bitcoin Drops Below $26,200 As Selloff Continues

Twitter icon  •  Published 7 months ago  •  Hassan Maishera

Bitcoin is down by more than 1% in the last 24 hours and could drop below the $26k level soon as the market selloff continues.

TL;DR

  • Bitcoin is down by nearly 2% in the last 24 hours as market selloff continues.

  • BTC could drop below the $26k level as the bears remain in control.

Bitcoin Risks Dropping Below $26k

Bitcoin, the world’s leading cryptocurrency by market cap, has underperformed over the weekend. BTC was trading just above $27k on Friday but has lost more than 3% of its value over the past few days.

At press time, the price of Bitcoin stands at $26,181, down by 1.4% in the last 24 hours. The market has been experiencing a selloff since Federal Reserve Chair Jerome Powell revealed last week that the apex bank could continue with its tight monetary policies for a while as it continues to combat inflation.

The broader cryptocurrency market has lost more than 1% of its value in the last 24 hours, with the total cryptocurrency market cap now at $1.04 trillion.

Despite the market’s poor performance, LINK, the native coin of the Chainlink ecosystem, is up by more than 1% today. LINK is the best performer amongst the top 20 cryptocurrencies by market cap over the last 24 hours.

 

Next article Block's Pro Bitcoin Stance Reinvesting 10 Percent of Profits Into Bitcoin Monthly

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.