The queen of cryptocurrencies lost more than 10% of its value on Saturday, in a context of geopolitical tension. In total, the crypto market saw $400 billion evaporate.
A few days before its halving, bitcoin is going through a period of turbulence. Saturday April 13, bitcoin lost more than 10% in a few hours, plunging below $62,000. The queen of cryptocurrencies dragged the entire market into its fall, notably ether which fell by 7%, Binance’s BNB by 9% and even solana by 12%.
First weakened by announcements from the Federal Reserve (Fed) last week, the fall of bitcoin was accentuated last Saturday after Iran attacked Israel, reports CoinDesk. Likewise, the boss of the Bitmex crypto exchange, Arthur Hayes, had indicated upcoming upheavals in the bitcoin market before the opening of the crypto income declaration in the United States, scheduled for this Monday.
400 billion dollars
Between last Friday and Saturday, the global capitalization of the cryptocurrency market lost “more than 400 billion dollars”, indicated CoinAcademy. Since then, bitcoin has recovered but it remains far from its historic peak above $73,750 reached on March 14.
This Monday at 10:00 a.m. French time, the queen of cryptocurrencies is trading above $66,500, gaining 3% in the space of 24 hours even if the asset remains 5% lower over 7 days. The turbulence could continue as the bitcoin halving approaches. This event, which takes place every 4 years, will take place this Saturday, April 20.
Source: https://www.bfmtv.com/crypto/bitcoin/pourquoi-le-bitcoin-a-brutalement-chute-ce-week-end_AV-202404150316.html
