{"id":20773,"date":"2023-05-10T20:13:01","date_gmt":"2023-05-10T20:13:01","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/why-is-the-crypto-market-down-today-btc-briefly-slips-below-27k\/"},"modified":"2023-05-10T20:13:01","modified_gmt":"2023-05-10T20:13:01","slug":"why-is-the-crypto-market-down-today-btc-briefly-slips-below-27k","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/why-is-the-crypto-market-down-today-btc-briefly-slips-below-27k\/","title":{"rendered":"Why is the crypto market down today? BTC briefly slips below $27k"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683743472211-a03b9cf9-ca61-4a25-941c-a7ebe59bab81-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683743472211-a03b9cf9-ca61-4a25-941c-a7ebe59bab81-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683743472211-a03b9cf9-ca61-4a25-941c-a7ebe59bab81-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683743472211-a03b9cf9-ca61-4a25-941c-a7ebe59bab81-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<p dir=\"ltr\">Key takeaways<\/p>\n<ul>\n<li dir=\"ltr\">\n<p dir=\"ltr\">The cryptocurrency market is down by roughly 1% over the past 24 hours.<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">Bitcoin briefly dropped to $26,990 earlier today before recovering to now trade above $27,500.<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">The dump came due to reports that there was a transaction with the United States government\u2019s BTC wallet.<\/p>\n<\/li>\n<\/ul>\n<h2 dir=\"ltr\">Why the crypto market is down today<\/h2>\n<p dir=\"ltr\">The cryptocurrency market recorded a sharp spike in movement a few hours ago. Bitcoin, the world\u2019s leading cryptocurrency by market cap, was trading just above $28k earlier today.<\/p>\n<p dir=\"ltr\">However, BTC fell below the $27k level for the first time in more than a week, briefly touching the $26,990 mark before retracing its movement.<\/p>\n<p dir=\"ltr\">According to market experts, the sharp decline in Bitcoin\u2019s price came as a result of a transaction from the United States government\u2019s BTC wallet.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: US Gov BTC Wallet is moving<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> dumps hard. Lot of longs rekt. <a href=\"https:\/\/t.co\/kyw8QIhAnR\">pic.twitter.com\/kyw8QIhAnR<\/a><\/p>\n<p>\u2014 Woetoe (@cryptowoetoe) <a href=\"https:\/\/twitter.com\/cryptowoetoe\/status\/1656348619455201283?ref_src=twsrc%5Etfw\">May 10, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\"><a href=\"https:\/\/blockstream.info\/tx\/0d3873d4a9e5b31156605143f27b84a503d69f70df46b31576bc26f7a6c947ae\" rel=\"noopener noreferrer\" target=\"_blank\"><u>Data obtained from Blockstream<\/u><\/a> showed that 9819.01814463 bitcoins were on the move from the wallet. This large transaction was reflected in the market, with Bitcoin dropping below the $27k mark for the first time in a month.\u00a0<\/p>\n<h2 dir=\"ltr\">Bitcoin recovers to trade above $27,500<\/h2>\n<p dir=\"ltr\">The dump didn\u2019t last long, as Bitcoin is now trading above the $27k level once again. At press time, the\u00a0<a href=\"https:\/\/coinjournal.net\/bitcoin\/\" rel=\"noopener noreferrer\" target=\"_blank\"><u>price of Bitcoin<\/u><\/a> stands at $27,502, down by more than 2% in the last hour.<\/p>\n<p dir=\"ltr\">Bitcoin is not the only cryptocurrency that recorded losses. Ether, the second-largest cryptocurrency by market cap, also dropped below the $1,800 mark earlier today before retracing to now trade at $18,36 per coin.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/why-is-the-crypto-market-down-today-btc-briefly-slips-below-27k\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Key takeaways The cryptocurrency market is down by roughly 1% over the past 24 hours. Bitcoin briefly dropped to $26,990 earlier today before recovering to now trade above $27,500. The dump came due to reports that there was a transaction with the United [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":20774,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20773"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=20773"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20773\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/20774"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=20773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=20773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=20773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}