BTC Price Dropped to $29,588

The price of the cryptocurrency fell below $30 thousand, starting to fall in price on January 26. Rumor has it that this is consolidation, since the price of bitcoin has been actively growing for a whole month

Compared to Bitcoin, ETH hasn't gone into the red zone. The DeFi market, with its bullish sentiments, does not allow the cryptocurrency to slide after Bitcoin.

This is probably why some traders are planning to switch from BTC to ETH. Ethereum receives support from its projects, and therefore the trading volume in the BTC-ETH currency pair has now increased.

The first cryptocurrency is currently trading at $30,400. Whether there will be a further decline or the cryptocurrency will recover its previous price is not yet clear.

The market froze in anticipation. Everyone is waiting for the level of the price drop to rebound and how much the cryptocurrency will lose. We will follow the development of the situation.