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 | 82% | 33 | $62 059.45 | -1.27% | 0.11% | $1 226 601 980 255 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 74.4% | 43 | $2 433.83 | 0.34% | -2.63% | $292 983 223 989 |  |
|
| 3 |  USDT |
Tether predictions | 94.8% | 1 | $0.999453 | -0.04% | -0.02% | $119 791 684 933 |  |
|
| 4 |  BNB |
Binance Coin predictions | 77.6% | 35 | $579.84 | 2.04% | 5.31% | $82 374 483 999 |  |
|
| 5 |  SOL |
Solana predictions | 78% | 45 | $142.74 | -2.06% | -3.02% | $66 984 756 078 |  |
|
| 6 |  USDC |
USD Coin predictions | 94.4% | 1 | $0.999931 | 0% | 0.01% | $35 134 574 221 |  |
|
| 7 |  XRP |
XRP predictions | 76.8% | 43 | $0.527264 | -1.57% | -12.22% | $29 824 207 335 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 83.6% | 32 | $0.106629 | -2.78% | -0.60% | $15 598 117 734 |  |
|
| 9 |  TRX |
TRON predictions | 95.2% | 1 | $0.158517 | 1.57% | 2.99% | $13 723 047 278 |  |
|
| 10 |  TON |
Toncoin predictions | 78.8% | 31 | $5.18 | -0.71% | -3.44% | $13 139 798 644 |  |
|
| 11 |  ADA |
Cardano predictions | 81.6% | 38 | $0.343700 | -2.18% | -3.31% | $12 016 129 800 |  |
|
| 12 |  AVAX |
Avalanche predictions | 67.6% | 60 | $26.35 | -2.03% | 0.91% | $10 708 947 140 |  |
|
| 13 |  STETH |
Lido stETH predictions | 91.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 14 |  WTRX |
Wrapped TRON predictions | 92.4% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |  |
|
| 15 |  SHIB |
SHIBA INU predictions | 54% | 94 | $0.000017 | -3.42% | 4.79% | $10 096 333 371 |  |
