CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$47,572.00
  • ethereum
    ETH$1,488.02
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Crypto News » Bitcoin Price Dips Below $30K as Wall Street Opens in Red

    Bitcoin Price Dips Below $30K as Wall Street Opens in Red

    Author: George Georgiev

    Last Updated Jan 27, 2021 @ 16:06

    Markets are painted in red as Bitcoin dipped below $30,000 while major indices opened today’s trading session in the negative.

    It’s a bloody day on the markets across the board. Cryptocurrencies experienced substantial losses, while traditional markets also opened in the red, highlighting the current correlation.

    Bitcoin dipped below $30,000 while the entire capitalization dropped below $900 billion.

    Cryptocurrency Markets Suffer

    As CryptoPotato reported earlier today, Bitcoin continued its regress today, sliding by almost 7% at one point. The cryptocurrency dipped to as low as $29,150 on Bitstamp, and even though it managed to recover to where it’s currently trading, things are still looking indecisive.

    btcusd_chart
    BTC/USD. Source: TradingView

    The first serious resistance in front of BTC at this point will be the previous support at $30,760, followed by the $32,500.

    The entire market seems to be correcting today, as the capitalization went down to about $880 billion prior to the current slight recovery. It’s also worth looking at Ethereum. ETH dropped to a low of $1205 on Bitstamp but has since recovered splendidly as it’s currency trading above $1270, less than an hour later.

    ADVERTISEMENT

    It’s interesting to see how things will develop, but the market highlights extreme volatility once again. This resulted in about $560 million worth of both short and long positions liquidated in the past 24 hours alone.

    Legacy Markets in the Same Boat

    Today saw legacy markets open at some notable losses, even though they’ve managed to somewhat recover in the past hour.

    NASDAQ’s Composite index opened roughly for a 2% loss, followed by the S&P 500. At the time of this writing, the former charts a decline of about 0.7%, while the latter is down 1%.

    Wall Street had its bit of excitement over the past few days. As we reported earlier, stocks of the GameStop company ticked GME, went parabolic, propped by retail investors part of a Reddit group going against large hedge fund managers. The shares skyrocketed for an increase of about 600% in just a few days, leaving certain funds in deep losses.

    The CEO of NASDAQ even went so far as to say that they would potentially halt trading in case of increased social media chatter.

    “When we evaluate how we would manage through a situation where you see a significant run-up with a stock that is not based on news or fundamentals, we have technology that evaluates social media chatter, and if we see a significant rise in the chatter on social media channels and we also match that up against unusual trading activity – we will potentially halt that stock.”

    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

    You Might Also Like:

    • bitcoin_moon
      Bitcoin Price to Hit $36,000 in 2021: Kraken Crypto Sentiment Survey
    • Almost $400 Million Short Positions Liquidated as Bitcoin Price Blasts Through $20,000
    • roller_coaster_cover
      Rollercoaster: $340M Long Positions Liquidated as Bitcoin Price Crashed $3000 In Hours
    Tags: Bitcoin Bitcoin (BTC) Price Ethereum Wall Street
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    George Georgiev
    More posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

  • bitcoin
    BTC$47,572.00
  • ethereum
    ETH$1,488.02
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    pionexb
    2local
    Bitcoin Editorials
    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!