Bitcoin (BTC) lost support at $ 23,000 on December 21, when the long-awaited correction began in trading on Monday. The move came as US futures also fell a few hours before the market opened by approx. 2.5% due to concerns about a new strain of coronavirus in the UK.

BTC price dropped to $ 22,400.
Data from Cointelegraph Markets and TradingView showed that at time of publication, BTC / USD had reached just $ 22,410, with a 24-hour loss of 3.3%.

The move confirms analysts’ doubts that Bitcoin will rebound after a week of near-steady gains. Retailers now view the $ 20,000 that draws order book data as a serious level of support.

At the beginning of last week, the largest cryptocurrency was still below $ 19,500, a level that Cointelegraph Markets analyst Michael Van de Pope believes could now form a short-term price target.

In comments over the weekend, he added that $ 22,800 is an important area that needs to be preserved to preserve the chances of further rallies.

Altcoins feel pain
The largest altcoin coins quickly experienced the rapid impact of bitcoin losses, with the leader ETH (ETH) experiencing a 6% daily decline.

Source: CoinTelegraph