Mass fall of major digital currencies.. 30 billion lost by Investing.com

Mass fall of major digital currencies.. 30 billion lost by Investing.com
Mass fall of major digital currencies.. 30 billion lost by Investing.com
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© Reuters

Investing.com – Cryptocurrency prices turned surprisingly bearish on Wednesday, after a wave of strong gains pushed the market to surpass the $1 trillion mark for the first time since last November.

Meanwhile, all major digital currencies fell, led by the one that fell towards the levels of $ 22,000, while the losses of the second largest digital currency were more severe.

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Feelings are still neutral

Sentiments towards the currency market remain neutral, as feelings of fear and panic evaporated from the digital currency market, amid a state of optimism dominating dealers despite the recent warnings and collapses.

According to the data of the Crypto Fear & Greed Index, which measures the psychology of dealers in the crypto markets, the index held firm in the neutrality area, which it managed to reach during yesterday’s trading, Tuesday.

During these moments of trading today, Wednesday, the Crypto Fear & Greed Index records 51 points, after rising yesterday to 52 points.

Bitcoin now

Bitcoin, the largest digital currency, fell during these moments of today’s trading within the limits of 2%, down to levels near $ 22 thousand, while it fluctuated within 24 hours between levels of $ 23.07 thousand and levels of $ 22.4 thousand.

Bitcoin briefly succeeded in surpassing the $23,000 levels, which is the highest since last August, and the bulls of the first currency are struggling to push it above those levels after testing the $23,000 levels.

Bitcoin is up 7% in a week and 35% in a month, while it has risen by 37% since the beginning of the year with a market value of $438 billion, but it is still down by more than $45,000 from its historical peak.

market now

Meanwhile, the market value of digital currencies fell to levels below $1.03 trillion, with losses close to $20 billion over the past twenty-four hours.

Ethereum fell by 5% to levels of $ 1.5 thousand, while it decreased by 2% within a week, while it is still rising within 30% since the beginning of the year, and its market value has fallen to $ 190 billion now.

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Binance Coin fell 4% to dispel its weekly gains, of which only about 0.5% remained, while it rose by 24% since the beginning of this year 2023.

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The sixth largest digital currency fell within 4%, down to $0.4 levels, while still maintaining weekly gains within the range of 6%, by more than 21% since the beginning of this year.

The coin fell 6%, fell 7%, while it fell 8%, Polygon MTech fell 7%, and Litecoin and Shiba Inu coins fell between 4 and 6%.

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Signature warning

In the latest decision by financial institutions to hedge against the contagion of the cryptocurrency crash, Signature Bank has abandoned crypto transactions of less than $100,000. The shift comes after the Federal Deposit Insurance Corporation warned of the risks of digital assets.

Binance, the world’s largest cryptocurrency exchange, said Signature Bank will only handle user transactions over $100,000 as the bank reduces its exposure to the digital asset markets.

According to the statement: “Binance said that one of our partners, Signature Bank, said it will no longer support any cryptocurrency exchange clients with buying and selling amounts of less than $100,000 as of February 1, 2023.”

As a result, some individual users may not be able to use SWIFT wire transfers to buy or sell with/against US dollars in amounts less than 100,000 USD.

In the statement, Binance said it was “actively working to find an alternative solution…and that” 0.01% of its average monthly users receive services from Signature Bank.

A spokesman for Binance said that no other banking partners were affected and did not announce any decisions similar to Signature Bank, knowing that SWIFT is a network used by financial institutions to transfer information and funds.

The article does not express a recommendation or nomination, but merely monitors the fluctuations of the market, as trading in digital currencies involves high risks, including the risk of losing some or all of the investment amount, noting that it is not fully subject to the bodies and markets.

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