Bitcoin Fell Nearly 2% to Hover Around $28,000

This morning (May 13), the Bitcoin price fell 1.98% to $28,516.7 in Asia before gradually rebounding.

Bitcoin’s negative performance came after the Dow fell 103 points on Thursday (May 12), marking the sixth consecutive day of declines.

  • The Dow Jones Industrial Average fell 103.81 points, or 0.33%, to close at 31,730.30.
  • The S&P 500 fell 5.10 points, or 0.13%, to close at 3,930.08 points.
  • The Nasdaq rose 6.73 points, or 0.06%, to close at 11,370.96.

Movements in the Crypto Market

Cryptomind Group Holdings Ltd. said the Bitcoin price fell to $27,000 from $30,000 after moving recently.

The price decline is considered a normal condition that can occur due to international factors. In particular, investors are concerned about the Federal Reserve’s rate hike and quantitative tightening (QT) cuts, as well as fears of a bubble bursting in the stablecoin LUNA, which has fallen sharply.

Therefore, it is believed that we could see further stagnation in the cryptocurrency market. This leads to a lack of confidence in the market, which could push the Bitcoin price to the lowest level of $20,000.

The Spot Market is Open

Friday, May 13, 2022

Crypto
Updated at
USD
Price

Change

%Change
15.00 BTC30,110.64+499.25+1.69
15.00 ETH2,046.01+27.42+1.36
15.00 LTC67.97+1.19+1.79
15.00 BNB296.05+14.84+5.28
15.00 XRP0.43+0.04+9.13
15.00 ADA0.57+0.05+10.18
15.00 DOT9.94+0.79+8.63
15.00 DOGE0.090.00+3.65
15.00 UNI5.10+0.20+4.08
15.00 LINK7.11+0.24+3.47

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