Bitcoin dropped below $ 40,000

On the morning of January 23, according to the analytical tracker CoinMarketCap, the global cryptocurrency market capitalization showed a 2.9% drop to $ 1.57 trillion. The Fear and Greed Index fell to a bearish 49 points.

The cryptocurrency market continues to show a general downward trend. Thus, the price of bitcoin BTC $74,734.81 Bitcoin -0.71% Market capitalization $1.48 trillion VOL. 24 hours $5.24 billion has retreated from the $ 40,000 mark, where it had been for several days. At the time of writing, the main cryptocurrency is trading at $ 39,851. The daily losses of the flagship crypto market amounted to 3%.

As for altcoins, the situation is similar: many virtual coins have fallen at a rate similar to bitcoin.

The reason for the fall in digital assets was the outflow of funds from the Grayscale GBTC product and, as a result, a significant number of BTC sales. It was also revealed that the management dealing with the problems of the bankrupt FTX crypto exchange sold bitcoins worth about $ 1 billion after GBTC turned into a spot exchange-traded fund.

It should be added that bitcoin’s market share is currently 49.8%.