Bitcoin, the leading cryptocurrency, was down more than 4% over the past 24 hours but holding above the key technical level of $45,000. Prices surged above $45,000 last Sunday and realized more gains into the beginning of this week, trading above $48,000 at points to make firm year-to-date gains.
The move lower in the largest digital asset began late Thursday, in line with a shift in wider markets away from risk-sensitive assets such as cryptocurrencies and stocks. Bitcoin prices fell more than 3% by Thursday evening, notching their biggest daily fall since March 10, according to Dow Jones Market Data.
Али чак и као equities rebounded on Friday, cryptos remained under pressure.
“The bitcoin rally has run out of steam and [Thursday’s] risk-off session on Wall Street could keep the pressure on cryptos,” Edward Moya, an analyst at broker Oanda, said in a note late Thursday. “Bitcoin long-term options bets are growing, but it looks like we might have to wait a while until a new catalyst emerges to take out the recent highs.”
The price of Bitcoin began 2022 around $46,200, and remains well off its high of $68,990, reached in early November.
Some in the crypto market are optimistic that the slide in bitcoin prices late this week may only be short lived.
“From a technical perspective, Thursday’s loss was a textbook move to test the old resistance (in this case, it is the area around $45,000) in order to prepare for a greater rally,” said Yuya Hasegawa, an analyst at the Japanese crypto exchange Bitbank.
“The market does not have to be too pessimistic, yet, but the $45,000 level will be a crucial support to defend and failing to close above that level on a daily and weekly basis will likely result in a huge disappointment,” Hasegawa added.
Bitcoin’s smaller peer,
етер,
slipped more than 3% to below $3,300. The token underpinning the Ethereum blockchain network also notched its worst daily performance since early March on Thursday, but continues to trade at the highest level since mid-January.
Слична акција цена примећена је међу неким мањим криптовалутама, или „алткоинима“, са
луна
клизање 4% и
цардано
пад за 6%, док
Солана
lost just 0.5%.
“Meme” cryptos dogecoin and shiba inu—called that because they were initially intended as internet jokes rather than significant blockchain projects — also saw losses.
Догецоин
notched a decline of 5% and
схиба ину
био 7% у минусу.
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