{"id":61304,"date":"2022-05-11T16:43:24","date_gmt":"2022-05-11T13:43:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=61304"},"modified":"2025-09-05T11:24:13","modified_gmt":"2025-09-05T08:24:13","slug":"bitcoin-price-sinks-below-30000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-price-sinks-below-30000\/","title":{"rendered":"Bitcoin price sinks below $30,000"},"content":{"rendered":"<p>On Wednesday, May 11, the price of the first cryptocurrency dropped below $30,000. The asset&#8217;s price at one point fell to $29,000.<\/p>\n<p>As of writing, Bitcoin is trading at around $29,200.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"640\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-05-11-v-16.15.42-1024x640.png\" alt=\"Bitcoin price sinks below $30,000\" class=\"wp-image-172777\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-05-11-v-16.15.42-1024x640.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-05-11-v-16.15.42-300x188.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-05-11-v-16.15.42-768x480.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-05-11-v-16.15.42-1536x960.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-05-11-v-16.15.42-2048x1280.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Hourly BTC\/USDT chart on Binance. Data: TradingView.<\/figcaption><\/figure>\n<p>According to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\">CoinGecko<\/a>, Bitcoin fell 8.6% over the last 24 hours and 22.1% over the past week.<\/p>\n<p>Ethereum is trading below $2,200, down 10.8% in 24 hours. Other top-10 by market cap are also in the red. The biggest losers in the last 24 hours were Solana (29.8%) and Dogecoin (22.1%).<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"520\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-05-11-v-16.21.27-1024x520.png\" alt=\"Bitcoin price sinks below $30,000\" class=\"wp-image-172778\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-05-11-v-16.21.27-1024x520.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-05-11-v-16.21.27-300x152.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-05-11-v-16.21.27-768x390.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-05-11-v-16.21.27-1536x779.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-05-11-v-16.21.27-2048x1039.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Top-10 cryptocurrencies by market cap. Data: CoinGecko.<\/figcaption><\/figure>\n<p>According to <a href=\"https:\/\/www.coinglass.com\/LiquidationData\">Coinglass<\/a>, the daily volume of liquidations on the futures market exceeded $770 million.<\/p>\n<p>The Fear and Greed Index in the crypto industry reached 12 points (&#8220;Extreme Fear&#8221;).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin Fear and Greed Index is 12 \u2014 Extreme Fear<br \/>Current price: $31,508 <a href=\"https:\/\/t.co\/F5LNwt7MRb\">pic.twitter.com\/F5LNwt7MRb<\/a><\/p>\n<p>\u2014 Bitcoin Fear and Greed Index (@BitcoinFear) <a href=\"https:\/\/twitter.com\/BitcoinFear\/status\/1524366234220908545?ref_src=twsrc%5Etfw\">May 11, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On May 9, Bitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-falls-below-32000\">fell below $32,000<\/a>, hitting its low since the summer of 2021.<\/p>\n<p>Bitcoin critic Peter Schiff <a href=\"https:\/\/u1f987.com\/en\/news\/peter-schiff-outlines-condition-for-bitcoin-to-fall-to-10000\">said it is &#8216;highly likely&#8217; for the asset to fall to $10,000<\/a> in the event of a sharp breach of the $30,000 level.<\/p>\n<p>Earlier, Galaxy Digital founder Mike Novogratz <a href=\"https:\/\/u1f987.com\/en\/news\/mike-novogratz-warns-of-further-bitcoin-price-decline\">conceded that further declines in the crypto market were possible<\/a>. In his view, the coming quarters will be volatile due to negative sentiment on Wall Street.<\/p>\n<p>On May 11, the algorithmic stablecoin TerraUSD (UST) <a href=\"https:\/\/u1f987.com\/en\/news\/luna-price-plunges-86-as-ust-stablecoin-slides\">lost its peg to the U.S. dollar again<\/a>. The LUNA token used to issue it <a href=\"https:\/\/u1f987.com\/en\/news\/luna-price-plunges-86-as-ust-stablecoin-slides\">plummeted by 97% in 24 hours<\/a>.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 crypto news, rates and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Wednesday, May 11, Bitcoin prices fell below $30,000. The asset&#8217;s price at one point fell to $29,000.<\/p>\n","protected":false},"author":1,"featured_media":61305,"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-61304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61304","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=61304"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61304\/revisions"}],"predecessor-version":[{"id":61306,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/61304\/revisions\/61306"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/61305"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=61304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=61304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=61304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}