{"id":49060,"date":"2021-09-07T18:25:48","date_gmt":"2021-09-07T15:25:48","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=49060"},"modified":"2025-09-02T10:44:16","modified_gmt":"2025-09-02T07:44:16","slug":"bitcoin-price-falls-below-47000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-price-falls-below-47000\/","title":{"rendered":"Bitcoin price falls below $47,000"},"content":{"rendered":"<p>Bitcoin traded below $47,000 on Binance within two hours. In the last 24 hours, the price of the leading cryptocurrency fell by about 13%. The aggregate liquidations in the futures market reached $3 billion, according to <a href=\"https:\/\/www.bybt.com\/LiquidationData\">Bybit<\/a>.<\/p>\n<p>At the time of writing, digital gold was trading near $46,000.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"490\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2021-09-07_18-16-56-1024x490.png\" alt=\"Bitcoin price fell below $47,000\" class=\"wp-image-148535\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2021-09-07_18-16-56-1024x490.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2021-09-07_18-16-56-300x144.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2021-09-07_18-16-56-768x368.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2021-09-07_18-16-56-1536x735.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSDT_2021-09-07_18-16-56.png 1834w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Hourly BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<br \/><\/figcaption><\/figure>\n<p>Analyst Willy Woo noted that the sell-off occurred mainly in the derivatives market. He said this is typical for most such crashes. What is atypical is the absence of catalysts for such a rapid price decline.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Not entirely sure WTF just happened, but that\u2019s the sequence of events. The sell-off was mainly on derivative markets (like most crashes).<\/p>\n<p>\u2014 Willy Woo (@woonomic) <a href=\"https:\/\/twitter.com\/woonomic\/status\/1435267546949701640?ref_src=twsrc%5Etfw\">September 7, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In the red zone were nearly all top-10 cryptocurrencies by market cap. The exception was Solana (SOL). The price of some cryptocurrencies fell by more than 18%, according to <a href=\"https:\/\/www.coingecko.com\/en\">CoinGecko<\/a>.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"523\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/top10-3-1024x523.png\" alt=\"Bitcoin price fell below $47,000\" class=\"wp-image-148543\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/top10-3-1024x523.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/top10-3-300x153.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/top10-3-768x392.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/top10-3.png 1279w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: CoinGecko. <br \/><\/figcaption><\/figure>\n<p>As a result of the sell-off, Ethereum\u2019s network average fee at one point reached $48.<\/p>\n<p><script async=\"\" src=\"https:\/\/telegram.org\/js\/telegram-widget.js?15\" data-telegram-post=\"forklog\/21296\" data-width=\"100%\"><\/script><\/p>\n<p>Some crypto exchanges struggled to cope with the surge. According to economist Alex Kr\u00fcger, users of Coinbase, Kraken and Gemini experienced operational issues. Downdetector corroborates this. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">GEMINI: TEMPORARILY ENTERING FULL MAINTENANCE PERIOD<\/p>\n<p>KRAKEN: SOME CLIENTS EXPERIENCING DELAYS WHILE USING INSTANT FUNDING METHODS<\/p>\n<p>COINBASE: AWARE TRANSACTIONS ARE CURRENTLY DELAYED OR CANCELLED AT ELEVATED RATES <\/p>\n<p>Shitty crypto exchanges don\u2019t want you to buy the dip<\/p>\n<p>\u2014 Alex Kr\u00fcger (@krugermacro) <a href=\"https:\/\/twitter.com\/krugermacro\/status\/1435268852196290562?ref_src=twsrc%5Etfw\">September 7, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, on September 7 in El Salvador the <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-legalises-bitcoin-as-government-buys-550-btc\">law recognizing Bitcoin as legal tender<\/a> came into effect. The country\u2019s sovereign wealth fund purchased 550 BTC.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin traded below $46,000 on Binance within two hours. In the last 24 hours, the price of the leading cryptocurrency fell by about 13%. The aggregate liquidations in the futures market reached $3 billion.<\/p>\n","protected":false},"author":1,"featured_media":49061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480],"class_list":["post-49060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=49060"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49060\/revisions"}],"predecessor-version":[{"id":49062,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49060\/revisions\/49062"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/49061"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=49060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=49060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=49060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}