Bitcoin Fell by 10% Over a Week
BTC rate returned to the lows seen in early February.
On Monday morning, February 21, the rate of Bitcoin (BTC) on Binance fell below $37.500. As of 14:30 (GMT+2), the first cryptocurrency is trading at $37.600, according to CoinMarketCap.
The drop affected the entire crypto market, the capitalization of which decreased by 1.32% over the past 24 hours. The volume of liquidation of traders’ positions for the last 24 hours has already exceeded $214 million, Coinglass reports. The day before the fall, there was a CNBC interview with Du Jun, CEO of Huobi. The businessman shared his opinion that the first cryptocurrency was at the beginning of a bear market and would be declining until 2024 when the next Bitcoin halving is expected.