Bitcoin (BTC) resists above $ 43,000 after the sharp drop suffered earlier this week. The flagship cryptocurrency has experienced strong volatility in recent days, and at the close of this publication its price is USD 43,240.
After the collapse of China Evergrande in the Asian markets pushed the rest of the world markets – including crypto – down, investor sentiment acted accordingly. The Bitcoin Fear and Greed index, which expresses the fear of bitcoin traders in financial contexts, showed for the first time in two months a feeling of “extreme fear”.
In the midst of massive outflows by small or new investors, the leading cryptocurrency has managed to resist near the support of USD 44,000 thanks to the whales and references of the industry, which put cold cloths on the situation.
While the third largest whale in the market has just invested 13 million dollars in BTC – for which it already has more than 111,000 BTC in its direction – Mike Novogratz assured that BTC must stay above USD 40,000 to demonstrate “good state”.
The CEO of Galaxy Digital also spoke of Ether (ETH), which in recent hours is down almost 1% and is currently trading above $ 3,010. For the entrepreneur, the leading altcoin will have to defend $ 2,800 to look still strong.
The rest of the cryptocurrencies have partially recovered in the last 24 hours. Cardano (ADA) and Solana (SOL) are up 3% and are trading at $ 220 and $ 141 respectively. Binance coin (BNB) and Litecoin (LTC) are up just 1%, hitting $ 372 and $ 159 again.
XRP and Dogecoin (DOGE) jumped 5% in recent hours and climbed to $ 0.97 and $ 0.22 respectively. Bitcoin cash (BCH) was virtually flat and continues above $ 539.