• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • bitcoinBitcoin(BTC)$27,509.00-1.34%
    BITCOIN
    24H : -1.34%
    Volume : $16,387,580,090.00
    Marketcap : $532,041,390,919.00
  • ethereumEthereum(ETH)$1,737.67-1.55%
    ETHEREUM
    24H : -1.55%
    Volume : $8,464,262,725.00
    Marketcap : $209,309,783,945.00
  • binancecoinBNB(BNB)$323.78-0.02%
    BNB
    24H : -0.02%
    Volume : $650,480,010.00
    Marketcap : $51,122,634,731.00
  • rippleXRP(XRP)$0.4576.43%
    XRP
    24H : 6.43%
    Volume : $2,230,274,047.00
    Marketcap : $23,296,770,946.00
  • cardanoCardano(ADA)$0.354-2.67%
    CARDANO
    24H : -2.67%
    Volume : $280,436,783.00
    Marketcap : $12,407,333,901.00
  • dogecoinDogecoin(DOGE)$0.074-2.90%
    DOGECOIN
    24H : -2.90%
    Volume : $455,098,713.00
    Marketcap : $10,238,188,645.00
  • matic-networkPolygon(MATIC)$1.08-1.82%
    POLYGON
    24H : -1.82%
    Volume : $414,753,355.00
    Marketcap : $9,790,387,107.00
  • solanaSolana(SOL)$20.43-1.70%
    SOLANA
    24H : -1.70%
    Volume : $396,151,003.00
    Marketcap : $7,841,803,673.00
  • polkadotPolkadot(DOT)$5.93-2.45%
    POLKADOT
    24H : -2.45%
    Volume : $148,229,135.00
    Marketcap : $7,207,184,324.00
  • okbOKB(OKB)$41.52-2.89%
    OKB
    24H : -2.89%
    Volume : $30,521,778.00
    Marketcap : $2,497,028,604.00
TodayinCrypto.com

TodayinCrypto.com

  • Home
  • Latest News
  • YOUTUBE RECAPS
  • CONTACT US

The crypto market is in chaos as Bitcoin hit a three-month low


May 8, 2022 · By MATheGooner
Bitcoin (BTC)

The ongoing crypto market carnage seems to have no end in sight after closing five weeks in the red, and it threatens to worsen in the months ahead.

The price of Bitcoin fell to $34,198 on Bitstamp early Sunday morning, according to TradingView, its lowest level in three months, as the brutal sell-off continues.

Long orders have been liquidated in large numbers as the majority of the crypto market’s values have declined in recent hours. Long orders account for 84.5 percent of total liquidations, according to coinglass data.

77,426 traders around the cryptosphere liquidated their long orders, bringing the total value liquidated to roughly $270million in just 24 hours, with the majority of the numbers coming in the past 12 hours.

The atmosphere surrounding the flagship cryptocurrency has been gloomy since the end of March. At the time, Bitcoin was close to $50,000, but it failed and began to lose value rapidly. BTC lost over $10,000 in April alone, closing the month below $40,000.

So far, May has been a nightmare. Bitcoin has dropped 9.9% this week and is down approximately 50% from its all-time high set last year, bringing the rest of the crypto market down with it. 

The global cryptocurrency market has lost nearly $145 billion since its opening price this week. Worse, it has lost $230 billion in value from its peak of $1.807 trillion. From their highs, Ether is down 47 percent, LUNA 46 percent, AVAX 63 percent, SOL 70 percent, and DOT 75 percent.

The popular Fear and Greed Index has once again slipped into an extreme fear area as bitcoin’s price continues to fall. Since late January, when the asset’s price dipped just under $33,000, the metric hasn’t been in such bad condition.

Short-term investors may have fueled the fall in the last two days. On the 5th and 6th, exchanges received a total of 11.76k BTC that had been kept for less than 3 months.

Bitcoin’s price trajectory is uncertain, and there are no clear clues as to what will happen in traditional markets which are in a sea of red in the coming months, and will have a huge impact on Bitcoin’s direction, so keep a watchful eye and manage your portfolio prudently.

Primary Sidebar

LATEST NEWS

Terraform Labs co-founder Do Kwon wanted by Interpol arrested in Montenegro

March 23, 2023

SEC sues Tron’s Justin Sun and celebrities for illegally promoting crypto securities

March 22, 2023

Texas house introduces bill supporting Bitcoin economy in the state

March 21, 2023

Belgium cryptocurrency ads must highlight risks under new regulations

March 20, 2023

Crypto Entrepreneur Justin Sun proposes to acquire Credit Suisse for $1.5 billion

March 19, 2023

  • Facebook
  • Instagram
  • Twitter

Newsletter

Footer

ABOUT US

TodayinCrypto is a financial media brand that strives to deliver breaking, accurate and daily news about digital assets to millions of investors in the crypto industry.

We are passionate about Bitcoin and are keen to share news about the people, companies and technological developments that are changing our world.

TODAY IN CRYPTO

  • Arbitrum Airdrop Frenzy: Super Hunters Consolidate Millions in Tokens March 24, 2023
  • Terraform Labs co-founder Do Kwon wanted by Interpol arrested in Montenegro March 23, 2023
  • SEC sues Tron’s Justin Sun and celebrities for illegally promoting crypto securities March 22, 2023

Search

Tags

Aave (AAVE) Aleph.im (ALEPH) Arweave (AR) Avalanche (AVAX) Benchmark Protocol (MARK) Binance Coin (BNB) Bitcoin (BTC) Bondly (BONDLY) Bridge Mutual (BMI) Cardano (ADA) Celsius Network (CEL) Chainlink (LINK) Decentraland (MANA) Dogecoin (DOGE) Elrond (EGLD) Enjin Coin (ENJ) Ethereum (ETH) Ethernity Chain (ERN) Fantom (FTM) FTX Token (FTT) Kusama (KSM) Litecoin (LTC) NFT OriginTrail (TRAC) PAID Network (PAID) PancakeSwap (CAKE) Polkadot (DOT) Polkastarter (POLS) Polygon (MATIC) SnowSwap Solana (SOL) SuperFarm (SUPER) Sushi (SUSHI) Terra (LUNA) Terra Classic (LUNC) The Graph (GRT) Theta Network (THETA) Tixl (TXL) Trustswap (SWAP) Uniswap (UNI) USD Coin (USDC) VeChain (VET) XRP (XRP) yearn.finance (YFI) Yield Optimization Platform & Protocol (YOP)

Copyright © 2023 · Today in Crypto · Terms & Privacy · Log in