The price of Bitcoin is $29,062.89, representing a -4.30% change in the past 24 hours. This has brought Bitcoin’s market capitalization to $562,367,675,282.26. Year-to-date, Bitcoin has experienced a 76.40% change.
On Wednesday, BTC dropped as low as $29,045, while ETH fell below $2,000 for the first time in almost a week. BTC has since been hovering around $29,300, down 3% in the past 24 hours. This was triggered by a massive sell order on Binance and hot inflation data in the U.K.
Despite BTC regaining its position above the $30,000 threshold, it fell below it again and dropped to $29,045, catching traders who were betting on an increase off guard. Most of the BTC liquidated positions were long, according to data from futures and trading platform Coinglass
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Please note that this market update is for informational purposes only and should not be taken as financial advice.
