Cryptocurrency market collapse: Bitcoin falls to $39,000, SATS, OP, ORDI, NEAR and others suffer heavy losses

According to this site (120BTC.coM), the cryptocurrency experienced a relatively obvious decline on January 23. In fact, since Bitcoin exceeded US$41,000 on the 20th, the market entered a period of consolidation, and a slow downward trend began in the early morning of the 22nd. Bitcoin eventually fell below the US$41,000 mark that night.

In the early morning of the 23rd, the price of Bitcoin fell below the US$40,000 mark, and even fell below US$39,000 before the deadline. At the same time, the price of Ethereum also fell to $2,222, causing the total cryptocurrency market value to fall by 4.68% to $1.53 trillion.

Mt.GOX also becomes potential selling pressure?

Although there is a lot of discussion about GBTC in the market, some analysts believe that the outflow of GBTC and the inflow of other Bitcoin spot ETFs have offset each other.

• Other potential reasons for the decline include:

• The Ethereum Foundation exchanged 700 ETH for DAI, with an average price of $2,406.

Not only GBTC, Mt.GOX also has potential selling pressure.

$SATS has the highest decline

According to CoinMarketCap, the 24 currencies with the highest decline among the top 100 market capitalizations are:

• SATS (1000SATS): -13.2 %

• OKB(OKB): -13.2%

• Optimism(OP): 10.5%

• ORDI(ORDI): -11.4%

• NEAR Protocol(NEAR): -10.52%

On-chain tracking agency Arkham pointed out, More than $100 million in long positions had been liquidated within an hour in the afternoon.

Previously reported that the OKX exchange platform currency experienced significant fluctuations, with a drop of 50%.

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