Market Roundup: Bitcoin Hits Two Week Low As $50,000 Support Holds

Thursday brought a sea of red as bitcoin dropped to a two-week low. Altcoins also saw bearish sell-offs coupled with the BTC drop.

Bitcoin saw its worst day in two weeks as the cryptocurrency dropped to $50,000. The drop saw bitcoin decline for the fifth straight day. Market sentiment has quickly shifted from bullish to bearish as bitcoin struggles to hold up. The $50,000 support appears to have held firmly for the meantime. However the weekend could see more volatility.

Source: Tradingview

Mass Liquidations as Volatile BTC Dumps

Bitcoin volatility has spared no over-leveraged traders on Thursday as it declined up to 8% on the day. The price decline saw a whopping $2.4 billion in liquidations on the day. It appears the bull market has created a wave of leverage traders over-extending their portfolios to capitalize on the surge in prices. However, small downward moves appear to be doing their damage to traders. While choppy, bitcoin even managed to liquidate some short positions. 

Majors Trend Down with Bitcoin

While bitcoin had a bad day on Thursday, the rest of the top ten major caps saw the same fate as bitcoin. Only Cardano (ADA) managed to remain green in the top 10. Litecoin (LTC), Binance Coin (BNB), and Uniswap (UNI) saw drops of over 8%. At the same time, Polkadot (DOT) suffered the biggest decline on Thursday, with a 10.6% drop in price. However, it still managed to hold onto the sixth spot. 

Source: CoinGecko

Top 100 Biggest Gainer and Biggest Loser 

With over 98% of the top 100 seeing red on Thursday. The biggest gainer saw QTUM climb 2.2% on the day. A measly increase. The lack of green was evident as three stable coins featured as top gainers on the day. 

Source: CoinGecko

Like much of the market on Thursday, most of the top 100 saw double-digit losses. Kusama (KSM) was the biggest loser with a price drop of over 14.9%, with FTM not far behind. 

Source: CoinGecko

Thursday was clearly one of the worst days in recent memory in terms of price action being negative. The market appears to be seeing a major correction, and Friday will offer more insight into how bitcoin will trend. However, in the meantime, traders remain optimistic about bitcoin recovering from here. All eyes will be on bitcoin over the weekend as volatility is likely to continue. 

Friday will also see a record $6 billion worth of bitcoin options expire. The event could yield further pain in the market as options traders look to capitalize. However price remains firm as bulls appear to be defending $50,000 for now. 

Disclaimer


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Leave a Reply

Your email address will not be published. Required fields are marked *

bitcoin
Bitcoin (BTC) $ 37,641.00 5.04%
ethereum
Ethereum (ETH) $ 2,438.25 0.89%
tether
Tether (USDT) $ 1.01 1.52%
polkadot
Polkadot (DOT) $ 21.32 2.15%
cardano
Cardano (ADA) $ 1.49 1.10%
binance-coin
Binance Coin (BNB) $ 348.81 0.92%
xrp
XRP (XRP) $ 0.859348 2.39%
litecoin
Litecoin (LTC) $ 166.45 2.20%
chainlink
Chainlink (LINK) $ 22.04 0.34%
bitcoin-cash
Bitcoin Cash (BCH) $ 590.88 1.41%
stellar
Stellar (XLM) $ 0.332228 1.46%
usd-coin
USD Coin (USDC) $ 1.01 0.88%
dogecoin
Dogecoin (DOGE) $ 0.321588 1.32%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 37,503.00 4.57%
uniswap
Uniswap (UNI) $ 21.97 1.47%
aave
Aave (AAVE) $ 297.97 4.57%
cosmos
Cosmos (ATOM) $ 12.04 1.79%
monero
Monero (XMR) $ 254.22 2.20%
eos
EOS (EOS) $ 4.95 1.37%
bitcoin-sv
Bitcoin SV (BSV) $ 167.48 2.91%
tron
TRON (TRX) $ 0.070111 1.70%
nem
NEM (XEM) $ 0.162894 2.02%
iota
IOTA (MIOTA) $ 1.05 0.61%
vechain
VeChain (VET) $ 0.107944 1.78%
tezos
Tezos (XTZ) $ 3.21 0.32%
theta-token
Theta Network (THETA) $ 8.35 4.61%
havven
Synthetix Network Token (SNX) $ 8.73 1.49%
avalanche-2
Avalanche (AVAX) $ 14.59 8.36%
neo
NEO (NEO) $ 47.50 1.57%
terra-luna
Terra (LUNA) $ 5.80 0.50%
dash
Dash (DASH) $ 167.50 2.04%
huobi-token
Huobi Token (HT) $ 13.51 2.67%
okb
OKB (OKB) $ 13.69 2.93%
elrond-erd-2
Elrond (EGLD) $ 82.28 3.37%
crypto-com-chain
Crypto.com Coin (CRO) $ 0.118296 4.68%
the-graph
The Graph (GRT) $ 0.626858 3.76%
compound-ether
cETH (CETH) $ 48.44 0.01%
solana
Solana (SOL) $ 36.90 1.19%
maker
Maker (MKR) $ 3,030.33 2.29%
filecoin
Filecoin (FIL) $ 72.12 2.18%
cdai
cDAI (CDAI) $ 0.021578 0.06%
dai
Dai (DAI) $ 1.01 1.58%
ftx-token
FTX Token (FTT) $ 31.85 2.74%
celsius-degree-token
Celsius Network (CEL) $ 6.84 2.29%
sushi
Sushi (SUSHI) $ 8.28 0.89%
kusama
Kusama (KSM) $ 425.18 3.40%
compound-governance-token
Compound (COMP) $ 310.66 2.39%
zcash
Zcash (ZEC) $ 129.37 1.08%
ethereum-classic
Ethereum Classic (ETC) $ 56.87 1.79%
decred
Decred (DCR) $ 134.76 2.78%
binance-usd
Binance USD (BUSD) $ 1.02 1.14%
compound-usd-coin
cUSDC (CUSDC) $ 0.022357 1.03%
zilliqa
Zilliqa (ZIL) $ 0.100495 0.81%
uma
UMA (UMA) $ 11.49 0.03%
yearn-finance
yearn.finance (YFI) $ 37,381.00 1.13%
leo-token
LEO Token (LEO) $ 2.77 15.48%
pancakeswap-token
PancakeSwap (CAKE) $ 16.13 1.65%
waves
Waves (WAVES) $ 14.92 1.62%
near
Near (NEAR) $ 3.06 3.08%
amp-token
Amp (AMP) $ 0.055429 8.83%
0x
0x (ZRX) $ 0.864129 1.88%
huobi-btc
Huobi BTC (HBTC) $ 37,320.00 4.57%
algorand
Algorand (ALGO) $ 1.04 6.03%
digibyte
DigiByte (DGB) $ 0.055494 1.97%
icon
ICON (ICX) $ 0.911638 1.08%
hedera-hashgraph
Hedera Hashgraph (HBAR) $ 0.189185 0.19%
nexo
NEXO (NEXO) $ 1.94 1.91%
xsushi
xSUSHI (XSUSHI) $ 9.55 0.34%
ethos
Voyager Token (VGX) $ 2.35 4.86%
loopring
Loopring (LRC) $ 0.296407 0.75%
thorchain
THORChain (RUNE) $ 7.53 1.92%
ontology
Ontology (ONT) $ 0.914164 1.10%
renbtc
renBTC (RENBTC) $ 37,369.00 4.47%
nano
Nano (NANO) $ 6.48 4.05%
basic-attention-token
Basic Attention Token (BAT) $ 0.635447 0.39%
omisego
OMG Network (OMG) $ 4.75 0.26%
republic-protocol
REN (REN) $ 0.415049 0.52%
zencash
Horizen (ZEN) $ 81.87 0.04%
bittorrent-2
BitTorrent (BTT) $ 0.003487 1.31%
swissborg
SwissBorg (CHSB) $ 0.670305 5.36%
ravencoin
Ravencoin (RVN) $ 0.074351 4.31%
iostoken
IOST (IOST) $ 0.027770 2.93%
qtum
Qtum (QTUM) $ 8.85 1.12%
paxos-standard
Paxos Standard (PAX) $ 1.01 0.96%
venus
Venus (XVS) $ 24.52 5.84%
blockstack
Stacks (STX) $ 0.873182 3.15%
matic-network
Polygon (MATIC) $ 1.39 7.84%
curve-dao-token
Curve DAO Token (CRV) $ 2.19 1.63%
siacoin
Siacoin (SC) $ 0.015693 5.86%
quant-network
Quant (QNT) $ 55.85 6.68%
bancor
Bancor Network Token (BNT) $ 3.83 0.91%
reserve-rights-token
Reserve Rights Token (RSR) $ 0.028850 4.14%
fantom
Fantom (FTM) $ 0.252483 3.20%
mdex
Mdex (MDX) $ 1.95 0.32%
enjincoin
Enjin Coin (ENJ) $ 1.27 1.74%
energy-web-token
Energy Web Token (EWT) $ 7.77 1.82%
lisk
Lisk (LSK) $ 2.83 1.65%
ampleforth
Ampleforth (AMPL) $ 0.887941 6.86%
balancer
Balancer (BAL) $ 23.03 0.55%
terrausd
TerraUSD (UST) $ 1.02 0.73%
ocean-protocol
Ocean Protocol (OCEAN) $ 0.509023 4.91%
husd
HUSD (HUSD) $ 1.01 0.19%
nxm
Nexus Mutual (NXM) $ 91.66 0.58%
1inch
1inch (1INCH) $ 2.97 9.44%
bitcoin-gold
Bitcoin Gold (BTG) $ 58.28 0.36%
kyber-network
Kyber Network Crystal Legacy (KNCL) $ 1.71 0.65%
verge
Verge (XVG) $ 0.029062 9.18%
decentraland
Decentraland (MANA) $ 0.676873 0.36%
alpha-finance
Alpha Finance (ALPHA) $ 0.594323 0.82%
flow
Flow (FLOW) $ 11.96 0.26%
band-protocol
Band Protocol (BAND) $ 6.68 0.76%
status
Status (SNT) $ 0.069721 2.92%
dodo
DODO (DODO) $ 1.26 1.55%
bitcoin-cash-abc-2
Bitcoin Cash ABC (BCHA) $ 19.92 1.83%
compound-usdt
cUSDT (CUSDT) $ 0.021471 2.20%
xdce-crowd-sale
XDC Network (XDC) $ 0.050451 6.29%
staked-ether
Lido Staked Ether (STETH) $ 2,415.91 0.22%
arweave
Arweave (AR) $ 16.53 11.05%
polymath-network
Polymath Network (POLY) $ 0.216505 8.15%
safepal
SafePal (SFP) $ 0.980975 3.55%
true-usd
TrueUSD (TUSD) $ 1.02 1.12%
zkswap
ZKSwap (ZKS) $ 0.679935 3.54%
polkastarter
Polkastarter (POLS) $ 1.32 0.93%
ethlend
Aave [OLD] (LEND) $ 2.90 2.81%
helium
Helium (HNT) $ 12.80 0.54%
civic
Civic (CVC) $ 0.259136 0.46%
pundi-x
Pundi X [OLD] (NPXS) $ 0.001521 20.77%
kava
Kava.io (KAVA) $ 3.69 0.89%
golem
Golem (GLM) $ 0.275719 6.02%
harmony
Harmony (ONE) $ 0.079853 3.41%
nucypher
NuCypher (NU) $ 0.307394 6.06%
holotoken
Holo (HOT) $ 0.007653 2.48%
nusd
sUSD (SUSD) $ 1.01 0.12%
electroneum
Electroneum (ETN) $ 0.007422 4.03%
nervos-network
Nervos Network (CKB) $ 0.018498 2.17%
derivadao
DerivaDAO (DDX) $ 2.18 9.26%
district0x
district0x (DNT) $ 0.143980 1.29%
bitcoin-diamond
Bitcoin Diamond (BCD) $ 2.88 1.35%
trust-wallet-token
Trust Wallet Token (TWT) $ 0.360125 2.33%
rif-token
RSK Infrastructure Framework (RIF) $ 0.183809 2.10%
swipe
Swipe (SXP) $ 1.86 7.30%
gnosis
Gnosis (GNO) $ 174.01 1.62%
numeraire
Numeraire (NMR) $ 38.51 1.50%
rook
KeeperDAO (ROOK) $ 156.06 6.27%
kucoin-shares
KuCoin Token (KCS) $ 8.34 3.31%
btc-standard-hashrate-token
BTC Standard Hashrate Token (BTCST) $ 27.63 3.26%
aragon
Aragon (ANT) $ 4.42 8.28%
fetch-ai
Fetch.ai (FET) $ 0.268495 1.73%
litentry
Litentry (LIT) $ 3.29 2.62%
funfair
FUNToken (FUN) $ 0.020662 1.44%
chiliz
Chiliz (CHZ) $ 0.274938 4.28%
seth
sETH (SETH) $ 2,496.76 3.25%
oasis-network
Oasis Network (ROSE) $ 0.068783 2.52%
injective-protocol
Injective Protocol (INJ) $ 7.69 0.23%
vethor-token
VeThor Token (VTHO) $ 0.007858 3.25%
saffron-finance
saffron.finance (SFI) $ 407.68 1.38%
augur
Augur (REP) $ 18.33 1.60%
the-sandbox
The Sandbox (SAND) $ 0.269617 0.58%
singularitynet
SingularityNET (AGIX) $ 0.196944 6.60%
secret
Secret (SCRT) $ 1.33 0.42%
telcoin
Telcoin (TEL) $ 0.030596 4.76%
serum
Serum (SRM) $ 3.80 3.56%
gatechain-token
GateToken (GT) $ 3.96 2.91%
mainframe
Hifi Finance (MFT) $ 0.008399 4.53%
sbtc
sBTC (SBTC) $ 38,738.00 7.44%
compound-uniswap
cUNI (CUNI) $ 0.430908 0.60%
ardor
Ardor (ARDR) $ 0.166220 2.91%
vai
Vai (VAI) $ 0.912534 1.53%
utrust
UTRUST (UTK) $ 0.305355 3.60%
prometeus
Prometeus (PROM) $ 13.84 3.85%
reddcoin
Reddcoin (RDD) $ 0.002850 2.91%
monacoin
MonaCoin (MONA) $ 1.88 3.48%
noia-network
Syntropy (NOIA) $ 0.196585 2.51%
compound-0x
c0x (CZRX) $ 0.017486 3.16%
wink
WINkLink (WIN) $ 0.000440 1.81%
ankr
Ankr (ANKR) $ 0.084616 0.22%
bytom
Bytom (BTM) $ 0.077279 2.88%
rocket-pool
Rocket Pool (RPL) $ 11.06 6.04%
origintrail
OriginTrail (TRAC) $ 0.317867 0.03%
steem
Steem (STEEM) $ 0.448990 13.50%
maidsafecoin
MaidSafeCoin (MAID) $ 0.712838 4.55%
tomochain
TomoChain (TOMO) $ 1.53 3.81%
edgeware
Edgeware (EDG) $ 0.009838 2.40%
skale
SKALE (SKL) $ 0.297291 2.90%
stratis
Stratis (STRAX) $ 1.29 2.26%
hegic
Hegic (HEGIC) $ 0.105073 0.59%
komodo
Komodo (KMD) $ 1.12 3.51%
bitshares
BitShares (BTS) $ 0.047510 1.61%
unibright
Unibright (UBT) $ 1.04 3.46%
coinmetro
CoinMetro (XCM) $ 0.376003 6.62%
ark
Ark (ARK) $ 1.08 2.54%
mirror-protocol
Mirror Protocol (MIR) $ 3.74 0.15%
keep-network
Keep Network (KEEP) $ 0.422420 7.03%
neutrino
Neutrino USD (USDN) $ 1.02 1.06%
iexec-rlc
iExec RLC (RLC) $ 3.36 0.38%
harvest-finance
Harvest Finance (FARM) $ 58.03 4.88%
iotex
IoTeX (IOTX) $ 0.022834 0.93%
badger-dao
Badger DAO (BADGER) $ 12.66 2.92%
redfox-labs-2
RedFOX Labs (RFOX) $ 0.070296 0.42%
empty-set-dollar
Empty Set Dollar (ESD) $ 0.057615 5.02%
ultra
Ultra (UOS) $ 0.373756 0.07%
wanchain
Wanchain (WAN) $ 0.726109 1.52%
iris-network
IRISnet (IRIS) $ 0.079684 4.23%
perpetual-protocol
Perpetual Protocol (PERP) $ 8.19 5.81%
trustswap
Trustswap (SWAP) $ 0.985868 0.79%
tokenlon
Tokenlon (LON) $ 3.66 3.52%
orion-protocol
Orion Protocol (ORN) $ 7.20 3.99%
titanswap
TitanSwap (TITAN) $ 4.14 4.34%
tether-gold
Tether Gold (XAUT) $ 1,879.58 0.02%
wax
WAX (WAXP) $ 0.147451 8.90%
yfii-finance
DFI.money (YFII) $ 1,808.27 6.76%
aelf
aelf (ELF) $ 0.208647 0.55%
haven
Haven (XHV) $ 10.37 7.45%
pax-gold
PAX Gold (PAXG) $ 1,932.93 1.56%
defipulse-index
DeFiPulse Index (DPI) $ 302.27 1.04%
math
MATH (MATH) $ 1.41 0.13%
api3
API3 (API3) $ 3.31 22.42%
sora
Sora (XOR) $ 290.22 17.69%
dent
Dent (DENT) $ 0.003211 0.89%
loom-network
Loom Network (OLD) (LOOMOLD) $ 0.063765 11.82%
nftx
NFTX (NFTX) $ 54.12 1.12%
gala
Gala (GALA) $ 0.009491 0.71%
axie-infinity
Axie Infinity (AXS) $ 3.91 0.89%
beefy-finance
Beefy.Finance (BIFI) $ 1,145.13 3.32%
swingby
Swingby (SWINGBY) $ 0.106465 3.08%
parsiq
PARSIQ (PRQ) $ 0.682590 5.99%
akropolis
Akropolis (AKRO) $ 0.020663 0.08%
nest
Nest Protocol (NEST) $ 0.012353 11.13%
stakehound-staked-ether
StakeHound Staked Ether (STETH) $ 3,719.75 0.00%
akash-network
Akash Network (AKT) $ 3.07 5.65%
cream-2
Cream (CREAM) $ 161.19 16.33%
auto
Auto (AUTO) $ 1,062.80 0.04%
storj
Storj (STORJ) $ 0.925883 0.13%
e-radix
e-Radix (EXRD) $ 0.149642 6.93%
hive
Hive (HIVE) $ 0.366042 8.05%
chainx
ChainX (PCX) $ 6.64 12.40%
wrapped-nxm
Wrapped NXM (WNXM) $ 61.81 1.03%
hathor
Hathor (HTR) $ 0.457768 10.94%
gemini-dollar
Gemini Dollar (GUSD) $ 1.03 1.73%
frontier-token
Frontier (FRONT) $ 0.759373 0.89%
everid
Everest (ID) $ 0.373484 3.81%
lto-network
LTO Network (LTO) $ 0.232698 4.65%
power-ledger
Power Ledger (POWR) $ 0.202991 2.63%
livepeer
Livepeer (LPT) $ 26.69 3.03%
xdai-stake
xDAI Stake (STAKE) $ 9.57 26.96%
rari-governance-token
Rari Governance Token (RGT) $ 5.41 3.01%
cashaa
Cashaa (CAS) $ 0.028389 0.65%
energi
Energi (NRG) $ 1.95 3.06%
bytecoin
Bytecoin (BCN) $ 0.000460 2.51%
duckdaodime
DuckDaoDime (DDIM) $ 13.00 10.37%