Bitcoin Dumps To New Low Of $32K As Crypto Markets Lost $80B

Bitcoin dumps to new low of $32K as the rest of the crypto market lost more than $120 billion in just two days and hit $80 billion as we can see the analysis in our latest Bitcoin news today.

The crypto market lost more than $210 billion in two days as Bitcoin dumps to a new low of $32K and the trouble continues with another price slide to a new low below the $32,000 level. The altcoins are deep in the red as ETH and BC trade below $2000 and $300 respectively. The weekend saw minimal trading volume with the price of the primary cryptocurrency increasing. It went from $33,000  to a high of $35,000. however, the bears regained control at this point and didn’t allow for a potential breakout. On the contrary, they pushed BTC south as reported a day ago.

BTC dropped to $33,000 and then it did try to bounce off but the situation worsened. The asset kept falling and broke below $32,000 for the first time since June and hit a low of $31,650. This became the lowest-priced line in 17 days and despite regaining a few hundred dollars in the next few hours, BTC’s market cap dropped below $600 billion while its dominance increased to 46% due to the bloodbath among the other altcoins.

As recently reported, Rumors circle around that Apple purchased $2.5 billion in Bitcoin after crypto Twitter exploded that the company will soon announce the news. Galaxy Trading is one of those that push the rumor as they say the figure is more than $2 billion. Whereas the CEO of ChainLeak, Joshua Roomsburg put the rumor purchase amount $2.5 billion as he added if the rumor is true, he will buy an iPhone to commemorate the occasion. When Tesla announced it had purchased $1.5 billion in Bitcoin, BTC increased 20% on the day, and this event set in motion a bullish trend that topped out in April with a high of the $65,000 price range.

Despite that, rumors circle that Apple is going pro-crypto. But whether that extends to a $2.5 billion investment is another matter. Apple even posted a job for Business Development Manager dealing with the “Alternative Payments” and one of the key requirements for the job is over five years of experience working with other payment providers including crypto.

Source: https://www.dcforecasts.com/bitcoin-news/bitcoin-dumps-to-new-low-of-32k-as-crypto-markets-lost-80b/