Bitcoin collapsed by more than 20% in a day and pulled other cryptocurrencies with it

The world's largest cryptocurrency over the past day has shown a dramatic fall: according to CoinDesk, the maximum price of an asset in the last 24 hours was $ 57,652, and the minimum reached $ 42,019. At the time of writing, the price of bitcoin was hovering around the $ 47,000 mark.



The maximum drop in Ethereum, the second largest token, was 17.4% in the last 24 hours. According to the CoinGecko tracker, the global crypto sector has lost about a fifth of its value, and capitalization has collapsed to $ 2.2 trillion. Fluctuations in digital assets occur during a period of general instability in financial markets: a sharp rise in inflation is forcing central banks to tighten monetary policy. In particular, there was a drop (10-20%) in the shares of tech giants, including Tesla, NVIDIA, Netflix and Meta. Another factor was a new strain of coronavirus. According to Bloomberg estimates, the global decline in stocks is now about 4%.

According to the Coinglass.com platform, about $ 2.4 billion in crypto assets were liquidated on Saturday, the maximum since September 7. Known for its volatility, bitcoin has lost about $ 21,000 to date since hitting an all-time high in early November. At the same time, the growth of the world's largest cryptocurrency this year is still more than 60%, which exceeds the profitability of many other assets. Fluctuations continue, and experts express the hope that bitcoin will be able to gain a foothold at $ 40-42 thousand - otherwise there is a risk of returning to the July lows of $ 30-35 thousand.

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