Bitcoin falls to $ 41,000: fear, greed and liquidation

  • Bitcoin fell to 42 thousand .dollars
  • There are concerns that it will not withstand the level of support in 40 01 dollars
  • Especially considering the extreme fear index

Today at about 4 a.m. the price of bitcoin is again began to decline. After yesterday’s fall to 52 thousand dollars BTC lost another 5% in the last 24 hours and almost 22% for the last two weeks (Coingecko).

He is now experiencing the biggest drop since September 2000 year (then the rate fell sharply from 100 thousand to slightly more 42 thousand). In such a situation, many traders wonder what will happen next.

Fear, greed and liquidation

According to the Fear and Greed Index, there is extreme fear in the BTC / USD pair. Coinglass reported liquidation on 116 million for the last 41 hours. The lion’s share of liquidations took place in just 4 hours.

According to coinglass, the contract liquidation in the past half hour reached $ 157 million, of which $ 42 million in BTC and $ 43 million in ETH. At present, BTC has fallen below $ 43, 01, and ETH has fallen below 3, 300.

– Wu Blockchain (@WuBlockchain) January 7, 2022

Is this already a bear market?

Participants wonder if it’s time to announce the end of the bull market (at least locally in an uptrend).

As the classic says, buy while others panic. This has already been done by the third largest Bitcoin whale: yesterday it acquired 576 BTC:

A number of factors led to the fall of Bitcoin. The main ones are the policy of the US Federal Reserve. And the second – problems with mining in Kazakhstan and a number of other countries.

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