Bitcoin Breaks Below $30,000
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On Tuesday, July 20, bitcoin (EXANTE: Bitcoin) started the day with a negative dynamic. As of press time, the largest cryptocurrency by market cap is trading at $29,726.96 (-5.96%), according to EXANTE.

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Bitcoin Breaks Below $30,000

Chart of the USD/BTC trading pair from EXANTE

Ether (ETH), for its part, has fallen to $1,761.79 (-7.14%), while binance coin (BNB) is losing over 11% and is now trading at the $265.76 mark.

FxPro's team of analysts says one should keep an eye on the total market capitalization of cryptocurrencies. This indicator is approaching the important milestone of $1 trillion, and may well drop below the next day, risking serious psychological pressure on market participants.

"It is assumed that the cryptocurrency market sale has been triggered by the stock market, new fears about the coronavirus, but in fact, new lockdowns are not in game, and humanity will learn to live with COVID, as it has learned to live with the flu," the analysts said.

Bitcoin Mining Difficulty Falls to Lowest Level Since January 2020

iHodl earlier reported that Robinhood warned that its revenue could be lower than expected — especially in crypto — as the whole frenzy on the cryptocurrency market is almost over. According to an amended prospectus, the Menlo Park-based company expects its revenue for the three months ending September 30, 2021 to be lower, as compared to the three months ended June 30, 2021. The company says "decreased levels of trading activity" is the the main trigger for the revenue decline.

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