Bitcoin price suddenly crashed. BTC has slid from $57,600 to $42,000 on Binance in the last 24 hours. The leading cryptocurrency suddenly deleted $ 15,600. So what triggered this collapse? Cryptocoin. com, we have compiled the details for you, let’s examine the subject together…
Bitcoin price deleted $ 15. 600! So what triggered this collapse?
There was an unexpected drop in the leading cryptocurrency Bitcoin. Bitcoin price erased $15,600 in the last 24 hours. BTC has rallied somewhat at the time of writing and is trading above $47,000. However, BTC is currently sitting at a 17% loss. The collapse in BTC drenched the entire market in blood, and at the time of writing, the top 10 altcoins are taking serious losses. The biggest drop is Ripple with a 25% loss. So what triggered the collapse in Bitcoin? There are several possible reasons for this.
The first is the spread of anxiety and fear caused by the Omicron variant to global markets. Another reason is the rapid increase in the number of BTCs sent to exchanges, as Santiment points out. In recent days, BTCs sent to exchanges have exceeded the rate of BTCs withdrawn from exchanges to cold wallets. This indicates that investors can use their Bitcoins for sales. It is also a bearish signal that pulls the market down. The opposite situation, that is, the increase in BTC outflows from exchanges is a bullish indicator. Because investors intend to store their BTC for a long time instead of selling it. We will inform you when new information on the subject becomes available.