Cryptocurrency bitcoin fell to $ 27,900

On the morning of April 21, the bitcoin rate dropped to $ 27,900. Overnight, the asset’s price dropped by 3%, falling from $ 29,000 to $ 27,900.

According to CoinGecko, the market leader is currently trading at $ 28,000, having lost 7.6% of its value over the week. The total market capitalization of cryptocurrencies decreased by 2.8% to $ 1.23 trillion over the day.

Ethereum has fallen by 1% to $ 1930 over the past 24 hours. The BNB rate dropped by 1.7% to $ 330, and Solana by 1.3% to $ 22.34. The price of Ripple fell by 4.3% to $ 0.47, Cardano — by 2.9% to $ 0.40. Dogecoin fell by 8.1% to $ 0.084.

Amid the decline in cryptocurrency rates, the Fear and Greed Index continued to fall. on April 20, it dropped to 50 points out of 100 (52 the day before). This indicates a decline in market participants' interest in buying cryptocurrencies.

During the day, 43,800 traders' positions totaling $ 134 million were liquidated on crypto exchanges. According to Coinglass, 81% of them were long. Bitcoin orders accounted for $ 49 million, and Ethereum orders — $ 27.9 million. The largest forced position closure occurred on the Bitmex exchange in the XBT/USD pair, amounting to almost $ 3 million.

As a reminder, cryptocurrency analyst CryptoQuant has suggested that in 2023 we should expect a sharp drop in the price of bitcoin due to the actions of the US government. Recently, representatives of the U.S. government announced plans to sell some of the confiscated BTC in several batches this year. According to the analyst, the BTC sales will take place: may 26, August 7, October 19, and December 30. The days when the US government will sell its BTC will be particularly volatile, so investors should be on the lookout.