Bitcoin Falls to $47,000 as LUNA and SHIB record Double-Digit Loses
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A cryptocurrency market selloff caused Bitcoin to crash as low as $47,400 on Tuesday
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Altcoins also suffered great losses in the bear movement, with Shiba Inu, Avalanche, and Terra, suffering more than 10% losses
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Among the top 100, SushiSwap, UNUS SED LEO, ICON, and IOTA are the only coins in green
It was a red Tuesday in the cryptocurrency market as a market sell-off caused the price of Bitcoin to crash to a low of $47,400.
Data from CoinMarketCap shows that this is the flagship of cryptocurrency’s lowest price point since Dec. 21.
Altcoins have also suffered in the bears with Shiba Inu (SHIB), Avalanche (AVAX), and Terra (LUNA), all crashing by more than 10%.
Kadena was the biggest loser on this day, falling more than 17% in 24 hours.
The only coins that managed to escape the bloodbath are SushiSwap (SUSHI), UNUS SED LEO (LEO), ICON (ICX), and IOTA (MIOTA).
Bitcoin had started the week by trying to breach the $52,000 resistance, but the failed attempt sent the coin back below $48,000.
As is often the case with the crypto market, the reason for the recent crash is not known.
Read also: Mexican Billionaire Supports Bitcoin Against Dollar
As per CoinMarketCap, the world’s largest cryptocurrency is currently valued at $47,684, as the global crypto market cap holds $2.25T.
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