Bitcoin price failed the $ 43,000 level

On Monday, September 20, the quotes of the first cryptocurrency fell below $ 43,000. Over the past day, the asset lost 8.9%, according to CoinGecko.

At the time of writing, Bitcoin is trading in the region of $ 42,800. Dominance Index BTC – 41.1%, ETH – 17.9%.

Bitstamp BTC / USD Hourly Chart. Data: TradingView.

The cumulative volume of liquidations in the futures market in the last 24 hours has exceeded $ 1 billion, according to Bybt.

The second largest cryptocurrency by capitalization lost 10.3%. Currently Ethereum Price Has Dropped Below $ 3000.

Bitstamp Hourly ETH / USD Chart. Data: TradingView.
Official repair site Asic for mining cryptocurrencies in Russia.

A trader and analyst nicknamed Rekt Capital noted on Twitter that the current drop in bitcoin is “not extreme”.

This #BTC dip isn’t extreme

Your emotional reaction to it shouldn’t be extreme either $ BTC #Crypto #Bitcoin

– Rekt Capital (@rektcapital) September 20, 2021

“Your emotional reaction to this shouldn’t be overreact either,” he added.

According to journalist Colin Wu, the reason for the downturn in the global and cryptocurrency markets is the situation with China’s largest developer Evergrande Group. Stocks fell to 11-year lows on September 20.

The Hang Seng Index fell 3.3%, its biggest one-day drop in the past eight weeks. Among them, the two Evergrande bonds will usher in the interest payment date on Thursday, and the stock price plunged nearly 19% during intraday trading, setting a new low since June 2010.

– Wu Blockchain (@WuBlockchain) September 20, 2021

Earlier, JPMorgan strategist Nikolaos Panigirtzoglu said that the fair price of Ethereum based on network activity indicators is $ 1,500.

Recall, Delphi Digital analysts suggested that the expiration of options on September 24, the market is waiting for increased volatility.