Jul 266 mins read

Bitcoin fell below the $ 40,000 mark! Market panic detonates the "escape wave"

The cryptocurrency market is full of panic and turbulent atmosphere today (19).Musk's remarks stormThe influence, yesterday (18) was even more by the Chinese authoritiesPunchAfter all, the confidence in investment was frustrated. After all, Bitcoin could not reach the market panic atmosphere. It fell below the psychological barrier of $ 40,000 and temporarily reported to $ 39,473. In the past 24 hours, it fell 12.04%.

At the same time, the market panic is also moving the money of the coin market. Investors have escaped from the car, and a large number of bitcoin spot continues to flow into the centralized exchange. Guess whether Bitcoin will open the bear market model.

According to data shared by quantitative traders and analysts Lex Moskovski, as many as 22,917 Bitcoin was transferred to a centralized exchange within one hour yesterday. Lex Moskovoski pointed out that such a huge influence is the highest since the market collapsed in March last year. He also pointed out that the market panic is infinite.

Generally speaking, whenever the exchange flows out a large amount of bitcoin, it is usually interpreted as: investors transfer the bitcoin to the cold wallet "stocking" or use it to the DEFI protocol that can generate benefits. Relatively speaking, if Bitcoin continues to flow into the exchange, it means investors want to "sell coins."

According to data from the blockchain analysis agency GlassNode, the number of Bitcoin, which has been transferred to Binance, has reached a new high for two consecutive days. CryptocurrencyAnalyst William Clemente III forwarded these data to Twitter, causing the encrypted community to predict the decline in the Bitcoin market outlook.

The chart shows that in the past 48 hours, about 35,000 Bitcoin, worth more than 1.4 billion U.S. dollars in Bitcoin.

Although the price of the currency has fallen below $ 40,000, some analysts are still looking for a reason for Bitcoin. famousAnalyst Lark Davis pointed out that the recent market downturn has led Bitcoin's 14 -day relative intensity index since March last year, and it has entered the oversold area for the first time since March last year, which indicates that Bitcoin's decline may be close to the end.

Some people also believe that this is a good time to buy bitcoin at every trip.predictOnce the panic selling tide slows down, Bitcoin will naturally return to the rise quickly.