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Bitcoin price tested the level below $41,000

Bitcoin: Bitcoin price tested the level below $41,000

On January 18, 2024, the price of the major digital currency at one point fell below the $41,000 threshold.

During this drop, bitcoin's dominance ratio remained unchanged at 51.03%. Additionally, the total value of liquidations in futures contracts exceeded $248 million.

According to Coinglass, most of the losses came from long positions.

It is worth noting that the fall in the price of bitcoin was reflected in other assets. Almost all leading cryptocurrencies by market capitalization are currently in the red zone, with the exception of #stablecoins and #BNB.

Bitcoin price tested the level below $41,000
The top 10 crypto assets by market capitalization. Source: CoinMarketCap.

Earlier, analysts at JPMorgan warned that the bitcoin price could face "additional downward pressure in the coming weeks" if investors in the #Grayscale spot ETF continue to lock in their profits.

Additionally, it was reported that 13,000 BTC has been withdrawn from GBTC since the #bitcoin-ETF was approved.

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