The digital asset market, which has left short-term ants, plummets all at once due to panic selling.

BTC falls 3% due to profit selling by short-term investors
Altcoins go downhill in the aftermath of BTC plunge
Experts: “Bitcoin price falls further”

Bitcoin (BTC) fell about 3% in the aftermath of panic selling by short-term investors.

Bitcoin fell to the $62,000 level, collapsing the $63,000 level in a sharp decline that began on the morning of the 24th. The reason for the sharp decline is the so-called 'profit selling' by short-term investors. Short-term investors, who were recording an average purchase price of $64,000, were tired of the recent boring market and dumped large quantities.

Van Straten, a digital asset (cryptocurrency) expert, mentioned in a report he contributed to Crypto Slate, a cryptocurrency media outlet last week, that the average purchase price for short-term investors holding Bitcoin for less than 155 days was recently $64,000. There is a bar.

Altcoins collapsed helplessly due to the decline of Bitcoin. As Bitcoin fell, panic selling continued throughout the day in the digital asset market, and altcoins fell by more than 5% on average.

◇Bitcoin = As of 5 PM on the 24th, the price of Bitcoin (BTC) is 88.16 million won as of Upbit. Bitcoin market share (dominance) was 55.41%.

While Bitcoin has plummeted, analysis has been raised predicting further decline. '10X Research', a digital asset market analysis company, said, "Bitcoin has entered a downward trend at $65,140 and liquidity is rapidly decreasing," and added, "You should sell now when the price is even a little high because a further decline may occur." Analyzed.

Checkmate, senior analyst at Glassnode, an on-chain analysis platform, said, “Downside pressure is increasing as short-term holders are more likely to suffer losses. They are likely to react sensitively to price changes, which could lead to additional selling.” “He said.

◇Rising coin = As of Upbit at 5pm on the 24th, the digital asset that recorded the largest increase compared to the previous trading day was metal (MTL), up about 18%.

Metal is a cryptocurrency issued by Metal Pay for capital transactions without restrictions of time and space. Metal is used as a payment method within the Metal Pay app or as compensation for remittances and purchases.

In particular, in the early stages, metal was distributed to users in an incentive manner through a fair trade certification consensus algorithm process.

◇Fear and Greed Index = The cryptocurrency fear-greed index provided by Alternative has entered the ‘Greed’ stage at 60 points. The neutral stage is a period where psychological resistance and support from market participants appear, and important decisions regarding future price movements occur.

Reporter Seungwon Kwon ksw@