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 | 60.8% | 88 | $19 379.81 | 1.82% | -9.72% | $369 859 493 172 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 55.6% | 93 | $1 066.72 | 0.83% | -13.48% | $129 505 183 554 |  |
|
| 3 |  USDT |
Tether predictions | 96% | 1 | $0.999055 | 0% | -0.04% | $66 019 070 422 |  |
|
| 4 |  USDC |
USD Coin predictions | 92% | 1 | $1.000490 | 0.01% | 0.04% | $55 829 935 403 |  |
|
| 5 |  BNB |
Binance Coin predictions | 61.2% | 75 | $219.20 | 1.00% | -8.73% | $35 790 895 178 |  |
|
| 6 |  BUSD |
Binance USD predictions | 95.2% | 1 | $1.000913 | -0.03% | 0.03% | $17 563 246 032 |  |
|
| 7 |  XRP |
XRP predictions | 64% | 69 | $0.318910 | 2.17% | -12.56% | $15 417 088 675 |  |
|
| 8 |  ADA |
Cardano predictions | 65.6% | 71 | $0.451556 | 0.74% | -10.89% | $15 241 170 259 |  |
|
| 9 |  SOL |
Solana predictions | 66% | 69 | $33.45 | 2.07% | -18.41% | $11 489 167 266 |  |
|
| 10 |  DOGE |
Dogecoin predictions | 70.4% | 62 | $0.066796 | 1.77% | -14.43% | $8 861 879 949 |  |
|
| 11 |  DAI |
Dai predictions | 92% | 1 | $1.000807 | 0.08% | 0.07% | $6 927 104 969 |  |
|
| 12 |  DOT |
Polkadot predictions | 69.6% | 67 | $6.81 | 1.41% | -16.65% | $6 721 801 235 |  |
|
| 13 |  TRX |
TRON predictions | 62.4% | 74 | $0.066132 | 4.44% | -4.18% | $6 116 428 865 |  |
|
| 14 |  LEO |
UNUS SED LEO predictions | 70% | 54 | $5.89 | 2.75% | 0.12% | $5 617 655 186 |  |
|
| 15 |  SHIB |
SHIBA INU predictions | 68% | 63 | $0.000010 | 2.16% | -12.58% | $5 577 553 156 |  |
