Bitcoin update price BTC and crypto drops again due to

Bitcoin update: price BTC and crypto falls on, Bitcoin panic & 1 bright spot

As usual, around lunch time we review the live Bitcoin price and the prices of the top 25 crypto currencies. Also, like every Monday, we look at the results over the past week and month. Then we see how signals of panic are affecting the BTC and crypto markets. We also see one bright spot.

We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto currencies.

Live Bitcoin price and prices top 25 crypto drop further after crash

At the time of writing, the live Bitcoin price is EUR 31,895.09 ($33,633.16). This is 2.80% lower than yesterday around this time and also lower than during our Bitcoin lunch on Friday.

The prices of the top 25 crypto are also in a downturn. Apart from some stable coins, only a few are seeing positive results. The biggest exception in the negativity is Near Protocol (NEAR), which is trading +8.79%. The biggest loss is currently for Shiba Inu (SHIB) at -8.47%.

Bitcoin weekly result and monthly result under pressure due to crash

The ongoing crash that began last week is putting pressure on the weekly and monthly results of Bitcoin and other crypto currencies. We see one positive weekly result and that is with +21.26% for Tron (TRX). The biggest loss of the past week is for Bonded Luna (BLUNA) with -26.04%. Bitcoin loses 12.64% in 7 days, holding the middle.

The monthly results are also negative. With -20.44% we find the Bitcoin in the middle again. The biggest loss is with -43.55% for Cronos (CRO), while again the Tron (TRX) is the positive exception with a result of + 37.49%. On the site of you can analyze all results and live crypto prices 24 hours a day.

Panic signals put more pressure on Bitcoin

Meanwhile, investors seem increasingly convinced that we are heading into a longer bear trend with falling prices. As such, we saw several signs this weekend that point to panic.

BTC whales selling and extreme fear

We now see that large investors (the whales) are also selling. In doing so, they seem to be speculating on a longer bear trend. With the proceeds of the sales now they try to increase their holdings later at a lower price. That is why we see relatively many of these transactions going over the exchanges and not “over the counter”.

Also the Fear & Greed index indicates extreme fear with a value of only 11. Also the on-chain data show mostly bearish tendencies.

Terra (LUNA) releases BTC coverage UST

The turmoil surrounding Bitcoin and crypto was further fueled by the CEO of Terra (LUNA). They previously filled a fund with BTC for coverage of their stable coin UST. Last week, they suddenly transferred $1.5 billion worth of Bitcoin to a market maker. This reduced the coverage of the stable coin and also put the stability of Bitcoin at risk. This turmoil gave additional reason for price decline.

As the only bright spot, we can note that the number of transactions on the exchanges is not dropping significantly. With that, people do seem to keep an interest in Bitcoin, but that is a drop in the bucket.

What should we expect from the Bitcoin exchange rate now?

Last week we still saw speculation of a trend reversal and bullish recovery, but that chance now seems to have gone. This is partly because the week for Bitcoin closed below the 100-day moving average. This has only happened 2 times in the past and was the harbinger for more bearish price movement.

Therefore, it is now expected that a strong bear trend will follow that could push the Bitcoin price below $30,000 and perhaps even below $23,000 before there is room for a bullish reversal again. Therefore, it looks like it will be an exciting but negative week.

Investing but not in crypto?

With all these negative signs it might be an idea to look into other investments. Whether the expectation in other markets is so much better you may wonder. We went to investigate and analyzed the prices of the most common investments in our weekly price forecast which you can of course read on our sister site

Want to stay informed about the latest price developments?

You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”