Bitcoin Struggles Below $20K While Daily Volatility Rises
The past two weeks took a different turn for almost all crypto assets, especially Bitcoin. Though the crypto market prices saw some positive moves to the north in July, most tokens could not sustain their growth afterwar...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
The past two weeks took a different turn for almost all crypto assets, especially Bitcoin. Though the crypto market prices saw some positive moves to the north in July, most tokens could not sustain their growth afterward. In addition, there have been other losses in the crypto market recently, which has thrown the entire market off balance.
A record of over $50 billion left the broader market as the cumulative market cap fell below the $1 trillion level. It seemed like the bears were not yet through with the downward pull. But trading over the last two days brought a little hope to the market.
Several cryptocurrencies were seen reclaiming some of their lost values. Bitcoin surged above the $19,500 mark, dipping as it gathered over $1,000 again.
Other cryptocurrencies followed the trend as well. The actual positive progress in the crypto market had the market cap hitting and surpassing its coveted $1 trillion mark again.
Another Downward Trend For BitcoinJust when it seems like the bulls are rising strongly, a negative twist has once again erupted in the market. The report on the market prices indicates that volatility has been increasing over the past 24 hours.
BTC price appears to be hovering below the $20,000 region as the token experience a slight shed-off over the past 24 hours. But the cumulative cryptocurrency market capitalization is still stalling over the $1 trillion mark.
Bitcoin hovers below 20k on the chart l Source: BTCUSDT on TradingView.comBTC is battling to claim the $20,000 mark as sellers and buyers are dragging supremacy. So far, Bitcoin’s strong forces are holding down the price at the level despite the increasing volatility in the market.
Altcoins Are Not Left OutThe altcoins are not left out in the 24 hours of downtrend prices. For example, Ethereum plummeted by 0.3% and is currently trading above the $1,500 region during the press. Other significant altcoins are also in the red due to the negative price swing of the crypto market.
SOL dropped but then gained; DOT lost by 0.69%, DOGE is also trading sideways, SHIB lost, but it has recovered, , AVAX dipped by 0.37%. There is also a reverse of the market sentiment as the level has moved back to ‘extreme fear.
The sudden rise in price volatility has total spiked liquidations over the past 24 hours. The value is currently about $250 million. A record of the most considerable single liquidation involved a BTC-USDT swap valued at $2 million and occurred on the OKEx crypto exchange.
Featured image from Pixabay, chart from TradingView.comWhy this matters
This bitcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on NewsBTCRelated market context
Bitcoin Price Holds Near $75,000 After Hot October Jobs Report
Bitcoin Magazine Bitcoin Price Holds Near $75,000 After Hot October Jobs Report U.S. employers added 165,000 jobs in October, near...
Bitcoin falls below pre-election levels amid AI stock slump
Bitcoin's decline highlights its vulnerability to tech market trends, suggesting a shift in investor sentiment towards risk aversi...
Bitcoin (BTC) Price Prediction: $73K Support at Risk as Benjamin Cowen Warns of NASDAQ Correction, Glassnode Shows Resilience
However, Glassnode data presents a more balanced picture, showing that spot trading activity remains above its August 2026 trough...
Binance-Controlled Korean Exchange GOPAX Stops Trading, Makes Users Email to Withdraw Crypto
Customers of GOPAX, a Korean exchange whose operator Streami is majority-owned by Binance, can now get crypto out only by emailing...
Kalshi Users Pour $300 Million Into Stock Perps Within Hours of U.S. Debut
Kalshi, the CFTC-regulated prediction market, rolled out perpetual futures tied to individual U.S. stocks on Nov. 5 and said it is...
Bitcoin ETF Outflows Hit $430M as Hong Kong Expands Its BTC Market
Bitcoin ETF outflows reached $430.2 million at the end of Thursday, as institutional investors continued withdrawing capital from...