Crypto Bears Lower Claw Markets, Bitcoin Price Drops Below $30,000, Analysts Still Optimistic

Bitcoin price dropped to a new low in 2021 and hit $28,600 per unit (EST) on Tuesday morning. BTC has lost more than 10% in the last 24 hours and its market cap is currently under $600 billion. Bitcoin Price Drops Below $29K Cryptocurrency markets have seen better days as the full market cap of over 9,000 cryptoassets fell 12% to just over $1.2 trillion. Bitcoin (BTC) has lost 26.31% in the last seven days and 42% in the last 90 days. At the time of publication, BTC is just below the $30,000 mark in the $29k region. The value dropped to $28,600 per unit Tuesday morning. BTC/USD price via bitcoinwisdom.io on June 22, 2021 on Bitstamp. Statistics show that bitcoin's top trading pair on Tuesday is tether (USDT), capturing 48% of all BTC transactions. It is followed by USD (17.28%), BUSD (7.87%), EUR (5.05%) and JPY (4.80%). Among the 9,000+ coins, Bitcoin (BTC) dominance is around 46.9%, while ethereum (ETH) accounts for 17.4% of the total crypto market cap of $1.2 trillion. BTC/USD price on Bitstamp via tradeview.com as of June 22, 2021. Ethereum is down 13% on Tuesday and is currently trading at $1,742 per unit. ETH has suffered a massive 29.40% loss in the past seven days. One of the few to see seven-day gains this week is mir coin (MIR), which rose 16.2% last week. Alex Siman, founder of Subsocial, wrote in a note to Bitcoin.com News on Tuesday: "At this rate of decline, it's hard to predict the level at which price will form the basis for an imminent recovery, as large investors prefer to watch from the sidelines as the potential for price reversal This While we may still see positive dynamics before the end of the year, a steeper drop to $20,000 wouldn't be a surprise to me either." Stephen Kelso, Head of Markets at ITI Capital, said: “Bitcoin is currently trading about a third below the long-term exponential trendline, which is just a phenomenon it exhibits.

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