The cryptocurrency market has seen a strong bearish momentum, with the leading cryptocurrency Bitcoin falling below the $28,000 price levels. Ethereum (ETH) started trading at $ 1830 after the recent losses. Crypto analysis platform Santiment also drew attention to the current data with a post on its Twitter account and pointed to a possible decline on behalf of ETH.
Cryptocurrency Market in Decline
Bitcoin (BTC), the leading cryptocurrency, lost nearly 2% of its value in the last 24 hours, falling below the $28,000 level. Most of the cryptocurrencies in the market accelerated their losses during the day, and the cryptocurrency market has caught a strong downward momentum. The total market capitalization of the cryptocurrency ecosystem fell to $1.16 trillion, according to CoinMarketCap (CMC).
Ethereum (ETH), which started to decline again with the effect of this downward momentum in the cryptocurrency market, lost nearly 1% in the last 24 hours and started trading at $ 1830 levels. On the other hand, while this decline in the market continued, the crypto analysis platform Santiment drew attention to critical data with its posts on its Twitter account.
505 Million Dollar ETH Transferred to Binance
Crypto analysis platform Santiment pointed out critical data with a post on its Twitter account, pointing to a possible bearish signal for ETH. According to the data shared by Santiment, more than 273,000 ETH, worth an average of $505 million at current prices, were transferred to the cryptocurrency exchange Binance during the day. Many analysts warned cryptocurrency investors that the large-scale crypto asset inflows recorded on exchanges may signal a new decline.
