The Bitcoin (BTC) price is currently trading at $29,335 following a ‘cascade of liquidations’ in the market.
Bitcoin has swiftly dropped by $1,000 on yesterday with its market cap falling 1.66%.
Michaël van de Poppe, CEO of trading firm Eight, has tweeted: “Deep correction on the markets, as #Bitcoin can’t hold at $29,700-29,800 and shoots downwards through a cascade of liquidations.”
He also added: “Nothing major has changed, just a correction.”
Meanwhile, Ethereum is trading at $1,989.35 – a drop of 5.29% in the past 24 hours. Overall, the total crypto market is down by 2.85%. Casper (CSPR) is in the green at 2.45% as of 10am BST at the time of writing on 19 April, along with Zilliqa (ZIL) at 1.46%, Synthetix (SNX) at 0.70%. Arbitrum (ARB) has dropped by 12% on yesterday, along with Frax Shares (FXS) at 10.76%, The Graph (GRT) 9.3% and Avalanche at 9.2%.
Bullish trader Crypto Kaleo is seeing the positive side. “Remember dips are gifts,” he has tweeted.