Bitcoin drops $1K in five minutes in fresh dip below $60K
Ethereum slips below $4,000 as an anticipated correction suddenly takes hold of crypto markets. Bitcoin (BTC) fell sharply on Oct. 27 as $60,000 finally gave way to two-week lows. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD nearing $58,000 at the time of writing, hitting its lowest since Oct. 15. The move follows multiple retests of $60,000, with Bitcoin now taking liquidity in a large support wall with $57,000 as its base.
Analysts, as Cointelegraph reported, were already prepared, with some data suggesting a deeper dive to a low as $50,000 would still preserve the overall bull trend. Commenting on the situation meanwhile, Charles Edwards, CEO of investment firm Capriole, blamed leveraged traders for sparking the volatility.
“Basically Bitcoin looks incredible here on most metrics, but leverage traders have gone out of control,” he argued. “We won’t get sustainable price rises until that changes.”
Data showed $500 million being liquidated in a single hour across cryptocurrency.
Altcoins lose big on trend reversal
Ether (ETH) led a bleed from altcoins Wednesday, falling below its hard-won $4,000 support line. Several of the top 10 cryptocurrencies by market capitalization saw daily losses of over 15%, including Dogecoin (DOGE) and Solana (SOL).
Shiba Inu (SHIB) was still largely in the green, up 23% on the day despite the market turnaround and continuing a wild month.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 93.2% | 3 | $26 578.13 | 1.46% | -1.21% | $515 523 852 307 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 90.8% | 1 | $1 851.65 | 1.45% | -0.94% | $222 625 164 413 |  |
|
| 3 |  USDT |
Tether predictions | 91.2% | 1 | $1.000135 | 0.02% | 0% | $83 312 701 560 |  |
|
| 4 |  BNB |
Binance Coin predictions | 90.4% | 11 | $263.30 | 1.73% | -13.80% | $41 036 442 955 |  |
|
| 5 |  USDC |
USD Coin predictions | 91.6% | 1 | $0.999980 | 0.01% | 0.03% | $28 439 686 561 |  |
|
| 6 |  XRP |
XRP predictions | 70% | 56 | $0.525411 | 1.38% | 3.20% | $27 314 551 970 |  |
|
| 7 |  ADA |
Cardano predictions | 92.4% | 7 | $0.323589 | 0.63% | -11.72% | $11 293 739 388 |  |
|
| 8 |  STETH |
Lido stETH predictions | 92% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 90.4% | 8 | $0.067802 | 1.05% | -5.51% | $9 471 068 578 |  |
|
| 10 |  WTRX |
Wrapped TRON predictions | 71.2% | 51 | $0.077563 | 0.87% | 3.14% | $7 886 264 204 |  |
|
| 11 |  SOL |
Solana predictions | 84.8% | 16 | $18.90 | 1.09% | -8.24% | $7 526 603 562 |  |
|
| 12 |  MATIC |
Polygon predictions | 89.2% | 16 | $0.780049 | 1.87% | -12.35% | $7 246 243 263 |  |
|
| 13 |  TRX |
TRON predictions | 74.8% | 49 | $0.077629 | 1.27% | 3.65% | $6 997 511 849 |  |
|
| 14 |  LTC |
Litecoin predictions | 81.6% | 38 | $88.46 | -0.35% | -6.33% | $6 466 841 922 |  |
|
| 15 |  DOT |
Polkadot predictions | 94% | 6 | $5.03 | 0.42% | -3.75% | $5 993 939 800 |  |
