• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Technology Cryptocurrency

Crypto winter hits Bitcoin, $200 billion worth of crypto assets evaporate

4 years ago
in Cryptocurrency, highlights, Home, home-news, latest News, Technology
1 min read
0 0
0
63
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Crypto winter hits Bitcoin, $200 billion worth of crypto assets evaporate

Bitcoin fell more than 10% over the past day trading at around $36.3K on the FTX exchange, causing the crypto market to be in a sea of red.

Despite the crypto market losing nearly $200 billion in market value since yesterday, Crypto Twitter is not losing its collective mind as Bitcoin’s dominance is at 40.84%, up 0.65% from yesterday.

Global investors seem to have entered the year with a reduced appetite for risk, and so the correlations between speculative assets like crypto-assets and equities have risen, which has resulted in widespread losses.

The day’s liquidations amounted to about 221,382 investors. On Bitmex, the largest liquidation order was for XBTUSD worth $9.31 million.

The S&P 500 Index has declined by about 7% since its peak, while the Nasdaq 100 Index has dropped by 10%. Bitcoin is down roughly 45% from its all-time high of almost $69K.

Read: 3 hospitality centres shut down over failure to pay GHS 600,000 in tourism levy

RelatedPosts

Africa’s Fastest-Growing Economy Sets new Rules for Foreign Stake in Local Banks

Nigeria’s Oil Production Could Reach 2 Million bpd by Next Year

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach

Bitcoin’s risk profile was higher than those of altcoins, which led to their decline on Friday.

Market cap-wise, Ethereum, the world’s second-largest cryptocurrency, dropped about 13% over the past 24 hours, while AVAX and FTM fell by 14% and 16%, respectively.

Analysts still expect a short-term rebound despite the losses. It is expected that BTC will find a bid near the $35K mark, close to 50% from the top.

The market can bounce to challenge the $40K-$45K area in the short term, but as long as liquidity remains tight, the outlook is bearish

As of now, technical indicators suggest that bitcoin’s nearby support level is $35K, although a stronger support level at $30K might stabilize a deeper correction.

It is imperative that bitcoin holds its support as it sets the tone for the cryptocurrency market. Many altcoins are trading at their summertime 2021 lows, making Bitcoin crucial.

Source: nairametrics
Via: norvanreports
Tags: $200 billion worth of crypto assets evaporateBitcoinCrypto winter hits BitcoinS&P 500 Index
No Result
View All Result

Highlights

How an Idle Land Tax Could Build 10,000 Homes in 5 Years

Thibaut Courtois Accuses La Liga of ‘Manipulation’ Amid Protests Over Miami Fixture

Historic Bid: U.S. Joins Forces with Mexico, Costa Rica, and Jamaica for 2031 Women’s World Cup

Bank of Ghana Sells GHS 7.0bn in 56-Day Bills at 21.46% Interest Rate

Deputy Finance Minister Hints 2026 Budget to Prioritise Fiscal Discipline and Job Creation 

FirstBank and Coronation Insurance Strengthen Partnership to Deliver Greater Value to Customers

Trending

Business

Africa’s Fastest-Growing Economy Sets new Rules for Foreign Stake in Local Banks

October 21, 2025

Africa’s Fastest-Growing Economy Sets new Rules for Foreign Stake in Local Banks Ethiopia has officially moved closer...

Nigeria’s Oil Production Could Reach 2 Million bpd by Next Year

October 21, 2025

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach

October 21, 2025

How an Idle Land Tax Could Build 10,000 Homes in 5 Years

October 21, 2025

Thibaut Courtois Accuses La Liga of ‘Manipulation’ Amid Protests Over Miami Fixture

October 21, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.