Markets Update: Bitcoin Price Continues to Feel Bearish Sentiment

The price of bitcoin (BTC) has been suffering from a bearish decline since it reached $19,600 USD across global markets and had touched a low of $15,299 on December 21. Over the past two days, most of the other alternative digital asset markets were stable or made some significant gains. However, now that BTC markets have continued to dive lower, the rest of the cryptocurrency economy is feeling the wrath of the storm.

Bitcoin’s Price Sees a $4,000+ Correction Since Last Week’s High
Bitcoin core markets have reached a considerable low after surpassing many new all-time highs over the last two weeks. In fact, after the announcements from Cboe, and CME Group launching BTC based futures products the price of bitcoin gained exponentially for 45 days straight. Now that the futures markets are open, the price of bitcoin across spot market exchanges has dropped over $4,000 in the last five days. However, bitcoin trade volume is pretty high right now as exchanges are swapping anywhere between $17-20bn worth of BTC over the past 24-hours. Bitcoin markets are showing an average of $15,250-15,500 according to Bitcoin.com’s weighted price index