2022 Starts in Red: AVAX is the Only Top 20 in Green (Market Watch)

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The start of the new year brought losses for the crypto market with bitcoin sliding to $47,000. AVAX is the only larger-cap exception.

Following yesterday’s sudden price pump to above $48,000, bitcoin headed straight south and dipped below $46,000 hours later. The altcoins are also in the red, with over $60 billion gone from the cryptocurrency market cap.After failing to overcome $52,000 earlier this week, bitcoin had dumped by more than $5,000 in days, asrecently. Consequently, the asset struggled below $47,000 for a few straight days.

The situation changed somewhat rapidly yesterday when the cryptocurrency initiated a sudden price pump that drove it north by more than $1,500. As a result, itHowever, it failed to continue on its upward trajectory, just the opposite. The bears came to play and pushed the asset south by more than $2,500. Thus, BTC dropped below $46,000, which became the lowest price point in over ten days.

Despite recovering over $1,000 since then, bitcoin’s market capitalization has declined to below $900 billion.This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:

 

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