Bitcoin remains below $23 thousand

On Tuesday, the price of bitcoin continues to remain in the area of local lows: the current price of BTC is $22153. During the day, the cryptocurrency even dropped to $20,834, for the first time since December 2020. 

Analysts note that against the background of falling quotations, the capitalization of the cryptocurrency market has fallen below $1 trillion and is now $959.1 billion.

The price of bitcoin has been declining for seven consecutive trading sessions. During all this time, the cryptocurrency has lost about 27% of its value. The strongest decline occurred at the beginning of this week – at the same time there were sales on the world stock markets. Yesterday, for example, the main US stock indexes fell by 2.8-4.7%, and the indices of Asia and Europe today show multidirectional dynamics.

In total, since the beginning of June, bitcoin has fallen in price by more than 28%, in spring its value has dropped by 26%, since the beginning of the year – by half. At the beginning of January, bitcoin cost $ 46.2 thousand.

Economists note that the crypto market is also under pressure after one of the largest multifunctional players in this area, Celsius Network, on Monday suspended the possibility of withdrawing funds due to a liquidity crisis.