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Bitcoin Drops Below $26,200 As Selloff Continues

Twitter icon  •  Published il y a 7 mois  •  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.

 

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.