coinspress.com
The cryptocurrency market suffered losses in the past few hours, and it remains to be seen if there will be another crash.
Bitcoin and Ethereum experienced a sudden drop in their prices, with Bitcoin falling to approximately $29,000 and Ethereum trading just below $2,000.
Yesterday Bitcoin had recovered to $30,000 but dropped sharply in less than 15 minutes on April 19, with longs being the majority of the liquidations.
Ethereum is also hovering around a crucial level of $2,000, and the bulls are fighting to defend it. The market is painted red, and all major cryptocurrencies were caught off guard by this move.
READ MORE: Bull Market on the Horizon: Morgan Creek’s CEO Anticipates “Crypto Summer”
In the past 24 hours Arbitrum (ARB) also corrected its gains by 12% and is currently trading at $1.55. The total BTC long liquidations on platforms monitored by Coinglass stood at around $27 million at the time of writing.
Bitcoin is currently trading at $29,320 after a 2% drop in the past 24 hours and has a trading volume of $23.5 billion.
Popular crypto analyst known as Kaleo shared a bullish chart on Twitter accompanied by the message “Don’t listen to the FUD”.
He also said the dips are gifts and that this retracement “beautiful” for tagging the range lows.