The cryptocurrency market went through massive volatility throughout the past 24 hours as BTC’s price dipped to the lows from September 2021 and bounced back towards $42K.
The past 24 hours were nothing short of exciting in the cryptocurrency market, which went on a tremendous rollercoaster. The entire ordeal left about $350 million worth of liquidations as Bitcoin, and the rest dipped to multi-month lows only to bounce back immediately after.Yesterday was a particularly vicious day, characterized by a significant chop in the price of the leading cryptocurrency. Interestingly enough, the daily candle opened and closed at almost the exact same time, charting a 0.
However, while the price opened at $41,850, it peaked at $42,250 and bottomed at $39,558, according to Bitstamp. The latter is the lowest point since September 21st, 2021. It’s worth noting that Bitcoin spent no more than a few minutes below $40K as the bids were quickly filled and catapulted the price back above the key level. At the time of this writing, BTC is trading at around $42K, having touched $42.6K in the interim.As mentioned above, the rollercoaster took over the entire market as most of the altcoins also went through something similar. Ethereum, for example, dropped below $3K before recovering.
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