Bitcoin Fell Below $44000 and the Cryptocurrency Adjustment Continued

In the past 24 hours, the cryptocurrency market has been painted red because bitcoin has fallen below $43000, while the alternative currency has suffered considerable losses.

In the past few days, there has been a turning point in the cryptocurrency market, with prices falling across the board. Most assets were trading at a loss, with BTC falling below $44K.

Bitcoin Price Fell Below $44K

In the past few days, due to the overall decline in prices, there has been no particularly big gain for cryptocurrency holders.Bitcoin even reached a daily low of $42727 on binance, and then rebounded to more than $43000. At present, it is trading at about $43.5k.With this in mind, the cryptocurrency lost a total of 7.5% this week, although most of it occurred in the past two days.
It is worth noting that in the past 24 hours alone, there have been nearly $100 million worth of BTC clearing positions. Naturally, most of them are bulls, accounting for more than 82% of the total clearing volume according to coinlass.

The Alternative Coins are Painted Red

As can be seen from the heat map below, the vast majority of alternative currency transactions are red. This has led to a considerable loss of capital in the entire market, as the total market has decreased by about $90 billion in the past 24 hours.

Obviously, Ethereum lost nearly 4%, Luna — more than 6.5%, Solana fell 7.2%, avax — 6%, dot — 6%, and so on in the past day. Of course, there are some exceptions, albeit very insignificant. Mina rose 4% and Enjin (enj) rose nearly 2% in the past 24 hours – these are the most significant beneficiaries. On the other hand, we have heart, which fell by 13.2%, followed by CELO — down 12.7%. These are the currencies that have suffered the most.

In short, the correction of cryptocurrency seems to be getting deeper and deeper, and the market must find a support to prevent further losses.