Bitcoin fell by $3 000 in a few hours, leading altcoins lost about 20%

In the morning 26 November Bitcoin's course began to decline sharply. In a few hours, the first cryptocurrency has lost $2 000 and, After a short consolidation, The fall continued.

Following Bitcoin began the fall and the rest of the cryptocurrency market. Many leading altcoins are already lost more than 20%. The most of all the correction was affected by XRP, over the past week, almost adding 80%.

As noted
CRYPTOQUANT CEO of the analytical company Ki Yong Ju (Ki Young Ju), The fall of the first cryptocurrency was preceded by a significant influx of BTC for cryptocurrency exchanges. This indicates, that the traders and holders of bitcoins decided to sell their reserves. Wherein, He believes Yong Ju, In the long run, the pressure of buyers is even stronger.

Trigger for today's collapse in the cryptocurrency market, In addition to the expectations of already a naughty correction, There could be the discovery of the output of cryptocurrencies from the OKEX exchange. Traders could not withdraw assets from this Chinese exchange for more than a month, And now, Having received such an opportunity, Many are in a hurry to sell them in price, very high compared to mid -October, and withdraw money from the exchange. The drop in prices began a few hours earlier, than OKEX traders gained access to the withdrawal of assets, But this event was announced a week ago and the market reaction was quite expected.

At the time of publication, BTC news is trading about $ 17,200, Although a short -term bitcoin exchange rate fell below $ 16,400.

This behavior of the first cryptocurrency affected the entire market. Most altcoins suffer noticeably large losses. If the BTC course decreased by 12%, then XRP fell immediately on 24.4% to $0.51. The air decreased 16.4%, to $498. Fall bch, Link and ADA close to 20%. In the first twenty cryptocurrencies on capitalization, all assets, except for stablecoins, significantly more BTC decreased.

Interesting, that the analytical company Glassnode is only for 12 hours before the fall of the BTC course reported, that the number of “whales” of bitcoin reached
historical maximum.