Market Update – Bitcoin Loses $1,400 in 24 Hours

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The cryptocurrency developed by mysterious Satoshi Nakamoto has experienced a continuous decline over the past day (-4.11%) that has made it lose over $1,400 from yesterday’s level, when the asset was trading at $34,647.27.

There is a mixed trend in CoinMarketCap’s top 5, as 3 coins are in red and 2 are in positive territory (with very low gains).

Regarding the Bitcoin dominance index, it stays at 45.3%, 0.8% less than yesterday, while the total capitalization of the crypto market amounts to $1.373T, down from yesterday’s $1.406T.

The greed and fear index is today in the fear area with 28 points, exactly the same as yesterday.

Apparently, the positive news that George Soros‘ investment fund can now trade Bitcoins has not had any positive effect on the price of the asset, at least for now.

The same has happened with the news about Visa expanding its cryptocurrency team with 5 new hires. Such an important decision should have impacted the price of Bitcoin, however, this has not happened.

Today we have also reported that Jack Dorsey, the founder of Square and Twitter, does not plan to invest in ETH despite the recent launch of 140 NFTs on Twitter. While a Twitter user suggested he might do so, he has answered with a simple “No.”

We know the NFT world is trending topic now, and the new artist to launch its own non-fungible tokens is Katy Perry, who has announced she is rolling out a collection of NFTs of her upcoming residency in Las Vegas.

Bitcoin is closer to $30,000 than to $40,000, and the end of the workweek is near, how will buyers and sellers reach as the weekend approaches?