Bitcoin Drops Below $20,000 For Sixth Session on

Bitcoin fell below $20,000 for a sixth successive trading session, the longest streak under the same closely-watch level since the crypto market was quacked by crisis in July.

The largest cryptocurrency by market value declined as much as 3.1% to $19,577 on Thursday. Most other digital coins were also lower, with Ether dropping 1%, Avalanche off 3.9% and Solana down 4.3% as of 1:58 p.m. in New York.


Technically, on most charts, Bitcoin looks weak. The sentiment indicators are pointing to maximum fear related to other traditional assets as well as monetary policy decisions from major central banks.

The crypto sector contracted to less than $1 trillion, or about a third of its total value recorded in November. After coming of the highs amid a general increase in risk aversion, coin prices were rocked midyear by the collapse of the Terra ecosystem, the demise of the Three Arrows Capital and the bankruptcy of broker Voyager and lender Celsius.