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$46,526.00
  • ethereum
    ETH$1,441.49
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Market Updates » Bitcoin Under $10,000 – First Time in 4 Weeks: Crypto Market Watch

    Bitcoin Under $10,000 – First Time in 4 Weeks: Crypto Market Watch

    Author: Jordan Lyanchev

    Last Updated Sep 4, 2020 @ 08:12

    The blood on the crypto market streets continues to spill with Bitcoin struggling to remain above $10,000, while ETH and numerous alts drop by double-digit percentages.

    The cryptocurrency market is not finished dumping in value as Bitcoin is fighting to stay above $10,000, while Ethereum is already well below $400. The rest of the alts are bleeding out as well, as the total market cap shed $60 billion in two days.

    Bitcoin Dipped Below $10,000

    It was merely 48 hours ago when Bitcoin was headed towards $12,000 and even briefly surpassed it. While it all looked like it’s going in BTC’s way, the situation sharply reversed and took the primary cryptocurrency on a violent trip down to $11,500, $11,000, $10,500, and a few hours ago – a dip below $10,000 (on Binance).

    So far, Bitcoin managed to bounce off and is currently trading at about $10,250. Still, the cryptocurrency lost $1,800 of its value, charting a drop of about 15%.

    It’s interesting to see whether Bitcoin will fill the CME gap at $9,600.

    BTCUSD 5m. Source: TradingView
    BTCUSD 5m. Source: TradingView

    As CryptoPotato reported, over $130 million in Bitcoin longs were liquidated on the popular BTC margin trading platform BitMEX alone.

    This time, however, Bitcoin has decoupled with gold, as the precious metal has remained rather calm at about $1,935 per ounce.

    On the contrary, BTC’s behavior is in line with that of the stock market.

    The S&P 500 closed with a loss of 3.5%, the Dow Jones (-2.8%), while Nasdaq’s – 5%. According to the Guardian, these adverse results on Wall Street came as investors were dumping their tech company shares, while fears regarding the rising number of unemployed in the US continue to increase.

    Altcoins Dump Even Harder

    Altcoins are bleeding out even more than BTC, and it seems that the DeFi sector is leading this negative trend. Ampleforth is down by 36%, SushiSwap (-35%), DFI.Money (-32%), bZx Protocol (-31%), Balancer (-30%), THORChain (-27%), UMA (-26%), Waves, (-25%), Ren (-25%), and Band Protocol (-25%) are just a part of the massive losses charted in the past 24 hours.

    From the larger-cap alts, Ethereum has fallen to $385 after another 11% dump, Ripple marks an 8.9% loss to $0.25, Polkadot (-4%) to $5.8, and Chainlink continues its recent free fall with a 17% drop to below $12.

    crypto_overview

    Bitcoin Cash (-15%), Litecoin (-16%), Crypto.com Coin (-11%), and Binance Coin (-18%) also lose double-digit percentages. Contrary, Tron is one of the few gainers in the past two days with a 10% pump. TRX’s increase was even more impressive a few hours ago and it even reached the top 10.

    Overall, the market cap is down about 15% in two days, losing almost $60 billion in the process.

    Total Market Cap. Source: CoinMarketCap
    Total Market Cap. Source: CoinMarketCap
    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.


    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. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Enjoy reading? Please share:
    Facebook Twitter LinkedIn Telegram

    You Might Also Like:

    • Bitcoin222
      Crypto Market Cap Gains $15 Billion as Bitcoin Price Touches $14,100 (Market Watch)
    • Crypto Market Watch: The Bitcoin's Calm After The Storm
    • bitcoin_top
      Crypto Market Cap Gains $7 Billion as Bitcoin Blasts Through $12,000
    Read more on: Bitcoin (BTC) Price DeFi Ethereum (ETH) Price Wall Street

    About The Author

    Jordan Lyanchev View more posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

  • bitcoin
    BTC$46,526.00
  • ethereum
    ETH$1,441.49
  • 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!