The Currency analytics
By Jean-Luc Maracon
Investors are in a panic this Friday. Bitcoin has sharply dropped to $60,000, a decline shaking the entire crypto market.
The plunge has been seriously worrying financial markets since Wednesday. Analysts are trying to understand the reasons behind this spectacular drop that caught everyone off guard.
Investor sentiment is collapsing, reaching its worst level since the creation of the crypto market confidence index.
Transactions have dangerously intensified over the past 48 hours with volumes unseen this year. Trading is becoming increasingly volatile and unpredictable.
No one knows when the market will finally stabilize. Crucial decisions are expected in the coming days from U.S. and European regulators.
Uncertainty persists and is growing. See also: Bitcoin Plummets to ,000 as Fed.
Bitcoin's fall follows statements from the U.S. Federal Reserve on February 4. The Fed indicated a possible interest rate hike in the coming weeks.
Trading platforms like Binance and Coinbase report completely crazy transaction volumes over the past two days.
BlackRock remains silent about its intentions. Their lack of comment fuels all possible speculations.
Markets are waiting for a potential reaction from these financial heavyweights holding billions in crypto.
On February 6, Kraken experienced major technical disruptions. Complete server overload for several hours.
Michael Saylor of MicroStrategy is maintaining his bitcoin holdings despite the drop. He stated this during an impromptu press conference last night.
MicroStrategy is known for its massive bitcoin investments, and Saylor is clearly aiming to reassure shareholders about their long-term strategy.
The U.S. SEC remains silent on the current situation. No official statement to clarify the potential impact of regulations on the crypto market.
PayPal temporarily suspends its crypto transactions since February 6. Decision made to protect users from unpredictable price movements according to their teams.