Bitcoin fell to a two-year low

According to analytics company Santiment, the value of the flagship cryptocurrency has dropped to its lowest level in two years — $ 15,800. At the time of writing, the digital asset has managed to recover to BTC $56,852.47 Bitcoin -0.23% Market capitalization $1.12 trillion VOL. 24 hours $1.19 billion .

According to experts, over the past six months, user confidence in centralized cryptocurrency exchanges has dropped to critical levels, especially after the FTX collapse. Over the past day, the total market capitalization has dropped by 4.1%, currently standing at $ 831 billion.

Ethereum lost 7.9%, currently trading at ETH $2,965.44 Ethereum -1.36% Market capitalization $356.45 billion VOL. 24 hours $0.55 billion . Among the digital assets in the top 10, the Dogecoin meme token fell the most. Quotes at DOGE $0.11 Dogecoin -2.11% Market capitalization $15.38 billion VOL. 24 hours $95.8 million dropped 9.6%.

As a reminder, Twitter analyst AltcoinSherpa named the promising cryptocurrencies that he believes will bring the most profit to investors during the next bull cycle. The expert said that he believes in Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Polygon (MATIC), and Cosmos (ATOM) the most. In addition, the expert noted the prospects of other virtual assets, such as dYdX (DYDX), GMX (GMX), Chainlink (LINK), Uniswap (UNI), and Aave (AAVE).