Bitcoin, The coin fell below $54,000, its lowest level since early August and is down about 4% on the day.
The Reason for the Decline is Risk Aversion in the US After Nonfarm Payrolls Data
The short-term rise in the markets quickly reversed, leading to volatile transactions and major in cryptocurrencies caused widespread casualties.
Bitcoin (BTC), the largest cryptocurrency by market cap, rose to as high as $57,000 earlier today in response to important economic data. However, the gains were short-lived as BTC quickly erased its rally and fell below $54,000. As of the latest trading data, Bitcoin has lost about 4% in the past 24 hours.
The sell-off went beyond Bitcoin, with major altcoins like Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cardano (ADA) losing between 3% and 5% during the same period.
The sudden price swings triggered the liquidation of nearly $50 million in crypto derivatives markets in a single hour, according to CoinGlass data. The volatility caught leveraged traders, especially long holders who had invested in a sustained price rally, off guard.
The turmoil in crypto markets coincided with declines in major U.S. stock indexes. The Nasdaq Composite Index fell 1.9%, while the S&P 500 fell 1.15% shortly after the opening bell, reflecting broader risk-off sentiment in financial markets.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/bitcoinde-ani-dusus-yasaniyor-54-000-dolarin-alti-goruldu-dususun-sebebi-ne/
