{"id":253708,"date":"2021-05-19T15:58:23","date_gmt":"2021-05-19T12:58:23","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/worse-than-march-2020-bitcoin-price-dives-below-33k\/"},"modified":"2021-05-19T15:58:23","modified_gmt":"2021-05-19T12:58:23","slug":"worse-than-march-2020-bitcoin-price-dives-below-33k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/worse-than-march-2020-bitcoin-price-dives-below-33k\/","title":{"rendered":"#Worse than March 2020? Bitcoin price dives below $33K"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3fbfd1d18e1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3fbfd1d18e1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/worse-than-march-2020-bitcoin-price-dives-below-33k\/#Altcoins_fall_in_line\" >Altcoins fall in line<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Worse than March 2020? Bitcoin price dives below $33K<\/strong>&#8221;<\/p>\n<p style=\"float:right;margin:0 0 10px 15px;width:240px\"><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNDJiMGM4MjktYTMyMi00ODQ5LWFlNDktZTU5ZjBhNTlkYzIxLmpwZw==.jpg\" class=\"type:primaryImage\"><\/p>\n<pre><code>                A \u201ckey level\u201d comes into play as Bitcoin challenges longer-term support lines and deals a major blow to long positions.\n                &lt;p&gt;Bitcoin (BTC) fell by $8,000 in hours on Wednesday as hodlers saw a return of levels not seen since the start of February.&lt;\/p&gt;&lt;figure&gt;&lt;img src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/bb90c4ca-163a-419c-917b-386e7d01ed11.png\"&gt;&lt;figcaption style=\"text-align: center\"&gt;&lt;em&gt;BTC\/USD 1-minute candle chart (Bitstamp). Source: TradingView&lt;\/em&gt;&lt;\/figcaption&gt;&lt;\/figure&gt;&lt;h2&gt;Bitcoin comes for leveraged traders... again&lt;\/h2&gt;&lt;p&gt;Data from Cointelegraph Markets Pro and &lt;a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\"&gt;TradingView&lt;\/a&gt;\u00a0showed BTC\/USD stumbling to new lows of $32,200 on Wednesday.\n<\/code><\/pre>\n<p>Selling pressure, already high, kept coming as claims of a fresh Chinese crackdown combined with a stocks rout and a strengthening United States dollar.<\/p>\n<p>In what is being <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PositiveCrypto\/status\/1394981989992837121\">called<\/a>\u00a0by some a \u201ccapitulation bottom,\u201d Bitcoin failed to hold $40,000 support and began abrief freefall below its significant 200-day moving average.\u00a0<\/p>\n<p>While the dip in dollar terms was average by Bitcoin\u2019s standards, it caused mayhem among speculative traders, with a single hour seeing $2.7 billion of liquidations. Total 24-hour liquidations stood at $6.5 billion.<\/p>\n<p>\u201cLong leveraged traders liquidation spike on that move down in the past hour,\u201d Philip Swift, founder of analytics resource LookIntoBitcoin, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=Long%20leveraged%20traders%20liquidation%20spike%20on%20that%20move%20down%20in%20the%20past%20hour&amp;src=typed_query\">tweeted<\/a> alongside a chart.\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PositiveCrypto\/status\/1394992110621839367\/photo\/1\"><\/a><\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/54179fb2-48d8-402a-b38c-60799c5419b5.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center\"><em>Bitcoin liquidations chart. Source: Philip Swift\/<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>Rafael Schultze-Kraft, co-founder of fellow analysis resource Glassnode, added that short-term BTC investors were now at a loss and that current prices represented a line in the sand.<\/p>\n<p>He <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/n3ocortex\/status\/1394992217241051152\">referenced<\/a> Glassnode\u2019s Short Term Holder MVRV indicator, which looks at the price of unspent transaction outputs 155 days old or less.<\/p>\n<p>\u201cShort-term holders now under water, as STH-MVRV drops below the neutral line. Key level,\u201d he commented.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/6df5a8d4-954a-4026-a431-90b7b8c19d5d.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center\"><em>Bitcoin Short Term Holder MVRV chart. Source: Rafael Schultze-Kraft\/Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Altcoins_fall_in_line\"><\/span>Altcoins fall in line<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>At the time of writing, Bitcoin was attempting to cement a floor above $37,000 amid uncertain conditions.<\/p>\n<p>On altcoins, the picture was similarly grim, with many major-cap tokens shedding nearly 30% on the day.<\/p>\n<p>Among the biggest drops were Telcoin (TEL) and Shiba Inu (SHIB), both of which had previously booked significant gains.<\/p>\n<p>Ether (ETH), meanwhile, briefly lost sight of $2,000 before recovering.<\/p>\n<p>A silver lining for Bitcoin bulls was its market capitalizatio dominance, which rose from below 40% to nearly 45%.<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/worst-than-march-2020-bitcoin-price-dives-below-33k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Worse than March 2020? Bitcoin price dives below $33K&#8221; A \u201ckey level\u201d comes into play as Bitcoin challenges longer-term support lines and deals a major blow to long positions. &lt;p&gt;Bitcoin (BTC) fell by $8,000 in hours on Wednesday as hodlers saw a return of levels not seen since the start of February.&lt;\/p&gt;&lt;figure&gt;&lt;img src=&#8221;https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/bb90c4ca-163a-419c-917b-386e7d01ed11.png&#8221;&gt;&lt;figcaption style=&#8221;text-align: center&#8221;&gt;&lt;em&gt;BTC\/USD&#8230;<\/p>\n","protected":false},"author":1,"featured_media":253709,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNDJiMGM4MjktYTMyMi00ODQ5LWFlNDktZTU5ZjBhNTlkYzIxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-253708","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/253708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=253708"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/253708\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/253709"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=253708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=253708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=253708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}