{"id":63109,"date":"2022-06-18T10:15:19","date_gmt":"2022-06-18T07:15:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63109"},"modified":"2025-09-05T22:06:07","modified_gmt":"2025-09-05T19:06:07","slug":"bitcoin-price-slips-below-the-20000-psychological-level","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-price-slips-below-the-20000-psychological-level\/","title":{"rendered":"Bitcoin price slips below the $20,000 psychological level"},"content":{"rendered":"<p>Bitcoin breached the $20,000 level. The price drop was sharp and accompanied by a surge in trading volumes.<\/p>\n<p><!--more--><\/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\/btc-price-1-1024x520.png\" alt=\"Bitcoin price falls below the $20,000 psychological level\" class=\"wp-image-176338\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/btc-price-1-1024x520.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/btc-price-1-300x152.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/btc-price-1-768x390.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/btc-price-1-1536x780.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/btc-price-1.png 1813w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>1-hour BTC\/USDT chart on Binance. Data: TradingView.<\/figcaption><\/figure>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">June 18, 2022 | 20:09<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>Bitcoin breached the next level \u2014 $19,000. Ethereum trades around $985.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"433\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/19-8-1024x433.png\" alt=\"Bitcoin price falls below the $20,000 psychological level\" class=\"wp-image-176371\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/19-8-1024x433.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/19-8-300x127.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/19-8-768x325.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/19-8.png 1236w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>1-hour BTC\/USDT chart on Binance. Data: TradingView.<\/figcaption><\/figure>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">June 18, 2022 | 23:16<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>Bitcoin is trading around $17,800. Ethereum near $900.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"485\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/17-15-1024x485.png\" alt=\"Bitcoin price falls below the $20,000 psychological level\" class=\"wp-image-176376\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/17-15-1024x485.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/17-15-300x142.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/17-15-768x364.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/17-15.png 1223w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>15-minute BTC\/USDT chart on Binance. Data: TradingView.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<p>On the higher time frame, the $20,000 level marks the peak of Bitcoin&#8217;s previous bull run, which ended in late 2017.<\/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\/btc-cycles-1024x520.png\" alt=\"Bitcoin price falls below the $20,000 psychological level\" class=\"wp-image-176339\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/btc-cycles-1024x520.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/btc-cycles-300x152.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/btc-cycles-768x390.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/btc-cycles-1536x780.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/btc-cycles.png 1813w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Weekly BTC\/USDT chart on Binance. Data: TradingView.<\/figcaption><\/figure>\n<p>The drop below the high of the previous market cycle occurred for the first time in Bitcoin&#8217;s history.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">There\u2019s a first time for everything <a href=\"https:\/\/t.co\/1qLdb67aHR\">https:\/\/t.co\/1qLdb67aHR<\/a><\/p>\n<p>\u2014 cevo (@cryptocevo) <a href=\"https:\/\/twitter.com\/cryptocevo\/status\/1538055311289876480?ref_src=twsrc%5Etfw\">June 18, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Ethereum price is gradually slipping below the $1,000 level:<\/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\/ETH-50-1024x520.png\" alt=\"Bitcoin price falls below the $20,000 psychological level\" class=\"wp-image-176343\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETH-50-1024x520.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-50-300x152.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-50-768x390.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-50-1536x780.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/ETH-50.png 1813w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>1-hour ETH\/USDT chart on Binance. Data: TradingView.<\/figcaption><\/figure>\n<p>Total cryptocurrency market capitalization fell to $885 billion, roughly in line with levels seen in January 2021. By comparison, in November last year it topped $2.9 trillion.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"371\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Mcap-2-1024x371.png\" alt=\"Bitcoin price falls below the $20,000 psychological level\" class=\"wp-image-176346\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Mcap-2-1024x371.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Mcap-2-300x109.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Mcap-2-768x278.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Mcap-2.png 1356w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: <a href=\"https:\/\/coinmarketcap.com\/charts\/\">CoinMarketCap<\/a>.<\/figcaption><\/figure>\n<p>The cryptocurrency fear and greed index fell to a record-low reading of 6.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"465\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/fear-4-1024x465.png\" alt=\"Bitcoin price falls below the $20,000 psychological level\" class=\"wp-image-176345\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/fear-4-1024x465.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/fear-4-300x136.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/fear-4-768x349.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/fear-4.png 1123w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">alternative.me<\/a>.<\/figcaption><\/figure>\n<p>Some market participants attribute the move to a confluence of factors, including:<\/p>\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/u1f987.com\/en\/news\/terras-death-spiral-how-and-why-luna-and-ust-collapsed\"> Terra collapse <\/a>;<\/li>\n<li><a href=\"https:\/\/u1f987.com\/en\/news\/how-celsius-3ac-and-steth-problems-could-shape-ethereums-price-and-the-crypto-market\"> Celsius and Three Arrows Capital <\/a>;<\/li>\n<li><a href=\"https:\/\/u1f987.com\/en\/news\/macro-conditions-not-celsius-problems-shaped-the-crypto-market\"> macroeconomic backdrop <\/a>.<\/li>\n<\/ul>\n<p>At the time of writing, Bitcoin is trading around $19,380. The 24-hour drop stood at 6.7%, according to <a href=\"https:\/\/www.coingecko.com\/en\/all-cryptocurrencies\">CoinGecko<\/a>. <\/p>\n<p>Earlier, Galaxy Digital CEO Mike Novogratz <a href=\"https:\/\/u1f987.com\/en\/news\/mike-novogratz-bitcoin-holds-above-20000-ethereum-unlikely-to-slip-below-1000\">expressed the view<\/a> that Bitcoin would stay above $20,000 and Ethereum would not fall below $1,000.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin breached the $20,000 level. The price drop was sharp and accompanied by a surge in trading volumes.<\/p>\n","protected":false},"author":1,"featured_media":63110,"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-63109","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"34","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63109","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=63109"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63109\/revisions"}],"predecessor-version":[{"id":63111,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63109\/revisions\/63111"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/63110"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=63109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=63109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=63109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}