MARKET WRAP: Bitcoin $BTC and other cryptos were a sea of red on Friday along with equities. Analysts expect some stabilization, although there is risk of further declines.
Bitcoin is down about 40% from its all-time high, compared with a 10% decline in the Nasdaq 100 Index.
UpdatedJan 21, 2022 at 9:36 p.m. UTCBitcoin's decline (Koyfin)The crypto market was in a sea of red on Friday as bitcoin, the world's largest cryptocurrency by market capitalization, tumbled more than 10% over the past 24 hours.It appears that global investors have entered the year with a reduced appetite for risk, and so the correlations between speculative assets such as cryptocurrencies and equities have increased, which results in widespread losses. Bitcoin is down roughly 40% from its all-time high of almost $69,000, while the S&P 500 is down about 7% from its peak, compared with a 10% drawdown in the Nasdaq 100 Index.Read more: CoinDesk »
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Crypto Billionaire Mike Novogratz Who Predicted $38K Bitcoin Bottom Speaks on Market OutlookMike Novogratz, crypto billionaire who predicted $38,000 Bitcoin low, talks market outlook
$200 Billion Gone From Crypto Markets as Bitcoin Dumped to 6-Month Low (Market Watch)The bears have complete control over the cryptocurrency market with $200 billion gone in a day as BTC dumped below $40K.
Bitcoin, Netflix, Peloton, Coinbase: What to Watch When the Stock Market Opens TodayNetflix warned of slower subscriber growth; Cryptocurrencies were broadly down. What we're watching at the end of a PLANdemic
Bitcoin Dips Below $40,000 During Broader Asia Market Sell-OffBitcoin falls below $40K during broader market sell-off. thesamreynolds reports. thesamreynolds stonkscoinbsc stonks gems thesamreynolds 🥱🥱🥱🥱🥱 thesamreynolds
Breaking 'bear market' in Bitcoin demand will spark next BTC price surge — analystsBTC price action could benefit most from the classic Bitcoin supply and demand transformation this year, analysts agree.
Market Watch: Bitcoin Still Around $42K, Cardano (ADA) Sees 20% Correction in 2 DaysBitcoin continues to stand still around $42,000. Most alts have recovered some ground since yesterday but ADA keeps losing value.
Jan 21, 2022 at 9:36 p.m. UTC Updated Jan 21, 2022 at 9:36 p.m. UTC Bitcoin's decline (Koyfin) The crypto market was in a sea of red on Friday as bitcoin, the world's largest cryptocurrency by market capitalization, tumbled more than 10% over the past 24 hours. It appears that global investors have entered the year with a reduced appetite for risk, and so the correlations between speculative assets such as cryptocurrencies and equities have increased, which results in widespread losses. Bitcoin is down roughly 40% from its all-time high of almost $69,000, while the S&P 500 is down about 7% from its peak, compared with a 10% drawdown in the Nasdaq 100 Index. Alternative cryptocurrencies (altcoins) led the way lower on Friday given their higher risk profile relative to bitcoin. Ether, the world's second-largest cryptocurrency by market cap, was down about 13% over the past 24 hours, compared with a 14% drop in AVAX and a 16% drop in FTM over the same period. Despite the losses, some analysts still foresee a short-term bounce."We expect BTC to find a bid around the $35K mark, close to 50% from the top. In the short term, we can bounce to challenge the $45K-$50K zone, but the overall outlook remains bearish as liquidity remains tight," Pankaj Balani, CEO of , a crypto derivatives trading platform, wrote in an email to CoinDesk. For now, technical indicators show nearby support at about $37,000 for bitcoin, although stronger support at $30,000 could stabilize a deeper correction. "Many altcoins are into support at their summertime 2021 lows, making it critical that bitcoin holds support as it sets the tone for the cryptocurrency space," Katie Stockton, managing director of , a technical research firm, wrote in a Friday briefing. Stockton assigns a 30%-70% probability of a continued breakdown below current BTC price levels. Latest prices