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Bitcoin Leads Risk Aversion and Falls More 10%; Cryptos Already Plummet US$ 1.5 Trillion in One of the Worst Days in the Market Since FTX.
The global cryptocurrency market woke up in strong turmoil this Friday (21), as Bitcoin leads risk aversion and falls more 10%; cryptos have already plummeted US$ 1.5 trillion, according to data from several international platforms.
The drop, on the other hand, raises alarms about global risk sentiment and reignites doubts about the sustainability of recent gains.
Market Refreshes Low and Bitcoin Accelerates Losses
The retreat of Bitcoin drew attention as it hit US$ 82,540 at 6:50 AM, the lowest level since April 10.
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With an investment of R$ 612 million, a capacity to process 1.2 million liters of milk per day, Piracanjuba inaugurates a mega cheese factory that increases national production, reduces dependence on imports, and repositions Brazil on the global dairy map.
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Brazilian city gains industrial hub for 85 companies that is equivalent to 55 football fields.
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Peugeot and Citroën factory in Argentina cuts production by half and opens a layoff program for more than 2,000 employees after Brazil drastically reduced purchases of Argentine vehicles.
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A Brazilian city gains a factory worth R$ 300 million with the capacity to process 200 thousand tons of wheat per year, a mill of 660 tons/day, silos for 42 thousand tons, and an industrial area of 276 thousand m².
This movement occurs in a scenario already pressured by liquidations in the futures market.
Altcoins Follow the Same Direction and Widen the Drop
While Bitcoin leads risk aversion and falls more 10%; cryptos have already plummeted US$ 1.5 trillion, the main altcoins also face a day of expressive losses.
XRP: -9.7%;
BNB: -9.1%;
Solana: -10.9%;
Dogecoin: -11.3%;
Cardano: -13.5%.
Among a few exceptions, Zcash (ZEC) showed stability close to zero, while Bitcoin Cash (BCH) recorded more moderate losses of 7.1%.
Institutional Pressure Increases and Widen Risk Aversion
Risk aversion gained strength with a significant outflow of institutional funds.
According to analyst Alex Saunders from Citi, the level of US$ 80,000 is being observed as a relevant technical point.
US Stock Markets Also Retreat and Amplify Negative Climate
The flight from risk in cryptocurrencies occurs simultaneously with the decline of the US Stock Markets.
Therefore, doubts about elevated valuations and the pace of interest rate cuts by the Federal Reserve have gained strength, further pressuring the appetite for risk.
Overall Assessment: Global Sentiment Deteriorates
The fact that Bitcoin leads risk aversion and falls more 10%; cryptos have already plummeted US$ 1.5 trillion makes it clear that the turbulence is not isolated.
Meanwhile, investors are awaiting new indicators that may stabilize, or not, the market in the coming days.
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