Meanwhile, the US markets have closed again. We take a look at the live Bitcoin price and the prices of the top 25 crypto. The price drops are leading to huge liquidations. We also look at how the FBI is entering the crypto market. Finally, we look at the expectations for the weekend and beyond.
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 coins drop
At the time of writing, the live Bitcoin price is quoting EUR 35,094.16 ($39,919.32). This is 1.64% lower than last night and also lower than when the US markets closed the day before yesterday.
The prices of the crypto coins in the top 25 are also falling with a few exceptions. The largest increase is for Tron (TRX) at 0.13%. The biggest drop is for Avalanche (AVAX), which loses 6.23%. On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day, including the whole weekend.
What are the consequences of the price drop
We already informed you this afternoon that the market is in a minor state due to the situation in Ukraine and the SEC’s intention to impose even more regulations on the crypto market. Meanwhile, the so-called crypto snowball is rolling vigorously again. The consequences are considerable. By now, $150 billion has already evaporated.
In the process, Bitcoin dipped below $40,000 today. More than $300 million was also liquidated.
Further uncertainty in the BTC market due to entrance of FBI
It has now also been announced that the FBI is going to set up a special unit focused on seizing Bitcoin (and other crypto) on crypto exchanges. This so-called Virtual Asset Exploitation Unit (VAXU) is causing turmoil in the crypto market.
In Dennis Porter’s podcast, they discuss the problems that such a unit can bring.
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The FBI is trying to learn how to take your #Bitcoin. If that doesn’t scare you into taking your coins off the exchanges, I don’t know what will.
– Dennis Porter (@Dennis_Porter_) February 17, 2022
In any case, it seems even more important to keep BTC and other crypto on central crypto exchanges for as short a time as possible and transport them to personal wallets as quickly as possible.
Bitcoin exchange rate for the weekend and beyond
On the one hand, we see that Bitcoin is under pressure due to fundamental factors that may persist for longer. In doing so, more turmoil has emerged as Bitcoin dropped below $40,000 several times today. Yet technical factors continue to point to a price rise to $50,000. We see this in the video analysis below.
In contrast to this positive analysis, other analyses expect that the price declines have not yet ended. We see this, among others, in the analysis below by Benjamin Cowen.
So it’s going to be an uncertain weekend. These 5 tips for trading in an uncertain market might help. Of course, after wishing you a pleasant weekend, we will be back on Monday to report on all the developments.
Want to stay up to date with 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.”