Bitcoin

The price of <a href="https://optimisus.com/market/market-news/russias-bitcoin-mining-industry-reaches-3-billion/" rel="noopener noreferrer nofollow">Bitcoin</a> has experienced a substantial decrease, declining from $57,000 on September 5 to $55,711.26, resulting in a severe downturn in market mood.The Crypto Dread &amp; Greed Index has reentered the &#34;extreme fear&#34; zone, registering a score of 22, which is a notable decrease from the score of 29 recorded the previous day.<a href="https://optimisus.com/news/crypto-news/arthur-hayes-predicts-altcoin-season-will-start-when-btc-surpasses-70k-and-eth-exceeds-4k/" rel="noopener noreferrer nofollow">Arthur Hayes</a>, one of the co-founders, forecasts a continued decrease in the price of Bitcoin, indicating that it may drop below $50,000 during the upcoming weekend. This occurs amid a more extensive decline in the market and increasing apprehensions regarding the US economy.More than 36 million Bitcoin long bets have been liquidated, resulting in a loss of around $29.7 billion from Bitcoin&#39;s market capitalization. Additionally, Ethereum (ETH) has had a decrease of 2.23%, Solana (SOL) has dropped by 2.82%, and Ripple (XRP) has experienced a 2.19% reduction.As a result, there have been liquidations totaling more than $94.26 million in the last 24 hours, with Bitcoin and Ethereum long bets making up more than 50% of these liquidations.The current volatility in the crypto market is caused by broader macroeconomic issues, specifically the recent underperformance of the US jobs data.

Arthur Hayes predicts Bitcoin (BTC) could fall below $50K amid market turmoil

Optimisus

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