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 | 66.4% | 75 | $17 068.95 | 1.50% | 2.94% | $328 093 649 109 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 67.6% | 73 | $1 278.37 | 1.23% | 6.57% | $156 439 268 664 |  |
|
| 3 |  USDT |
Tether predictions | 92% | 1 | $1.000025 | 0.01% | 0.06% | $65 364 325 174 |  |
|
| 4 |  BNB |
Binance Coin predictions | 65.6% | 64 | $293.85 | -1.52% | -1.65% | $47 007 631 475 |  |
|
| 5 |  USDC |
USD Coin predictions | 92.8% | 1 | $1.000107 | 0.01% | -0.02% | $43 258 083 171 |  |
|
| 6 |  BUSD |
Binance USD predictions | 96% | 1 | $1.000461 | 0% | 0% | $22 225 598 039 |  |
|
| 7 |  XRP |
XRP predictions | 72.8% | 57 | $0.398567 | -0.86% | 4.33% | $20 043 935 380 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 62% | 87 | $0.103187 | -1.30% | 26.67% | $13 689 952 284 |  |
|
| 9 |  ADA |
Cardano predictions | 63.6% | 74 | $0.315840 | 0.76% | 0.33% | $10 879 640 850 |  |
|
| 10 |  STETH |
Lido stETH predictions | 96% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 11 |  MATIC |
Polygon predictions | 67.2% | 73 | $0.916794 | 5.83% | 7.32% | $8 007 570 648 |  |
|
| 12 |  DOT |
Polkadot predictions | 66% | 66 | $5.37 | -0.13% | -0.41% | $6 119 440 034 |  |
|
| 13 |  DAI |
Dai predictions | 91.6% | 1 | $1.000127 | 0.05% | -0.02% | $5 658 986 064 |  |
|
| 14 |  WTRX |
Wrapped TRON predictions | 66.4% | 63 | $0.054505 | 1.26% | 4.33% | $5 541 826 151 |  |
|
| 15 |  LTC |
Litecoin predictions | 61.6% | 78 | $76.95 | -1.25% | -0.43% | $5 519 967 967 |  |
