{"id":670,"date":"2021-12-28T15:19:55","date_gmt":"2021-12-28T15:19:55","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=670"},"modified":"2021-12-28T15:19:55","modified_gmt":"2021-12-28T15:19:55","slug":"crypto-market-tumbles-as-whales-send-bitcoin-below-50000","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=670","title":{"rendered":"Crypto Market Tumbles as Whales Send Bitcoin Below $50,000"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p>Share this article<\/p>\n<p>Bitcoin has broken below $50,000 again. Other Layer 1 coins like Ethereum, Solana, Terra, and Polkadot are also down today.\u00a0<\/p>\n<h2>Bitcoin Faces Resistance<\/h2>\n<p>Bitcoin is pushing the cryptocurrency market into the red.\u00a0<\/p>\n<p>The leading crypto asset failed to break resistance at $52,000 Monday, leading to a sharp decline below $50,000. It\u2019s currently trading at $49,250.\u00a0<\/p>\n<p>Bitcoin\u2019s retrace comes as several indicators point to a bearish outlook for the asset. Santiment data shows that so-called \u201cwhales,\u201d large holders who hold between 1,000 and 10,000 Bitcoin, have been selling their coins. The proportion of the supply distributed among holders with 1,000 to 10,000 Bitcoin has dropped to 27.52% in the last week. Moreover, the supply held on exchanges has increased to 2.25 million Bitcoin. The supply held on exchanges is popularly used as an indicator for gauging price action: fewer coins held on exchanges is seen as bullish as it suggests that fewer holders are selling their assets.\u00a0<\/p>\n<p><em>Source: Santiment<\/em><\/p>\n<p>Many other assets have also suffered as a result of Bitcoin\u2019s downturn. Ethereum is down 4.5% today, while other Layer 1 coins like Solana, Terra, and Polkadot have been harder hit. Several DeFi tokens such as Uniswap\u2019s UNI, Curve\u2019s CRV, and Maker\u2019s MKR have also trended down. One exception to the decline is Sushi, whose SUSHI token is up 8% in the last 24 hours. The decentralized exchange began rallying yesterday amid renewed confidence in the project following its well-documented struggles of the last few months.\u00a0\u00a0<\/p>\n<p>Bitcoin has had a rocky year despite the crypto market jumping to new highs. It recorded an all-time high price of $69,000 as the global cryptocurrency market cap topped $3 trillion in early November but has struggled to maintain its momentum throughout the rest of the year. It\u2019s suffered from a slump in recent weeks even as other lower cap assets like Polygon and Terra post new highs. Bitcoin\u2019s market cap is currently just over $931 billion at press time, which represents about a 38% share of the cryptocurrency market.\u00a0<\/p>\n<p><em>Disclosure: At the time of writing, the author of this piece owned ETH, CRV, SUSHI, MATIC, and several other cryptocurrencies. They also had exposure to UNI and MKR in a cryptocurrency index.\u00a0<\/em><\/p>\n<p>Share this article<\/p>\n<p>The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.<\/p>\n<p>You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.<\/p>\n<p>See full terms and conditions.<\/p>\n<h3 class=\"title\">Sushi Up 17% Amid DeFi 2.0 Rescue Rumors<\/h3>\n<p>\nIt\u2019s thought that Daniele Sestagalli may step into the project as part of an internal restructure.\u00a0 Sushi Rebounds From Recent Woes\u00a0 Sushi is leading the market.\u00a0 The DeFi project\u2019s SUSHI&#8230; <\/p>\n<h3 class=\"title\">Bitcoin, Ethereum Hit Critical Resistance<\/h3>\n<p>\nBitcoin and Ethereum have both struggled to recover from their recent losses and now face resistance ahead. Still, the network dynamics suggest that the downside potential is limited.\u00a0 Bitcoin Is&#8230; <\/p>\n<h3 class=\"title\">Bitcoin Hits $69,000 Alongside Rising U.S. Inflation Rates<\/h3>\n<p>\nBitcoin continued its upward trend today, hitting another all-time high amidst reports of rising inflation in the United States. Bitcoin Worth $69,000 This Morning Early Wednesday morning, Bitcoin\u2019s price jumped&#8230; <\/p>\n<h3 class=\"title\">A Guide to Yield Farming, Staking, and Liquidity Mining<\/h3>\n<p>\nYield farming is arguably the most popular way to earn a return on crypto assets. Essentially, you can\u00a0earn passive income\u00a0by depositing\u00a0crypto\u00a0into a liquidity pool. You can think of these liquidity&#8230; <\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptobriefing.com\/crypto-market-tumbles-whales-send-bitcoin-below-50000\/?utm_source=main_feed&#038;utm_medium=rss\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Share this article Bitcoin has broken below $50,000 again. Other Layer 1 coins like Ethereum, Solana, Terra, and Polkadot are also down today.\u00a0 Bitcoin Faces Resistance Bitcoin is pushing the cryptocurrency market into the red.\u00a0 The leading crypto asset failed to break resistance at $52,000 Monday, leading to a sharp decline below $50,000. It\u2019s currently [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[4],"tags":[],"class_list":["post-670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=670"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/670\/revisions"}],"predecessor-version":[{"id":672,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/670\/revisions\/672"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/671"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}