Bitcoin price drops to $22.4K after weekend all-time highs
BTC dips below an essential level to preserve upside chances with volatility reappearing in Monday trading. Bitcoin (BTC) lost $23,000 support on Dec. 21 as Monday trading saw a long-awaited correction begin to take shape. The move comes as U.S. futures also dropped in pre-market hours by roughly 2.5% on concerns over the new coronavirus strain in the U.K.
BTC price falls to $22,400
Data from Cointelegraph Markets and TradingView showed BTC/USD hitting lows of $22,410 at press time, with 24-hour losses totaling around 3.3%. The move confirms suspicions among analysts that Bitcoin is due for a retracement after a week of near-constant gains. Traders are now eyeing $20,000, which orderbook data paints as a potentially formidable support level.
At the start of last week, the largest cryptocurrency was still at under $19,500, a level which Cointelegraph Markets analyst Michaël van de Poppe believes could now form a short-term price target. $22,800, he added in comments over the weekend, forms a crucial area to hold in order to preserve the prospects of further upside.
Altcoins feel the pain
Major altcoin tokens saw a swift knock-on effect from Bitcoin's losses, with leader Ether (ETH) seeing a 6% daily dive.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 64% | 72 | $61 393.62 | 1.16% | 0.83% | $1 157 410 091 263 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 71.6% | 55 | $4 171.66 | 5.07% | 8.92% | $492 462 196 227 |  |
|
| 3 |  BNB |
Binance Coin predictions | 73.2% | 57 | $485.63 | 1.44% | 4.21% | $81 003 906 943 |  |
|
| 4 |  ADA |
Cardano predictions | 91.2% | 14 | $2.17 | 0.55% | -0.57% | $71 272 162 809 |  |
|
| 5 |  USDT |
Tether predictions | 95.2% | 1 | $1.000858 | 0.10% | 0.08% | $69 633 809 415 |  |
|
| 6 |  SOL |
Solana predictions | 70.4% | 52 | $197.70 | 0.65% | 25.50% | $59 473 993 983 |  |
|
| 7 |  XRP |
XRP predictions | 76% | 49 | $1.094497 | 0.56% | -3.58% | $51 382 650 889 |  |
|
| 8 |  DOT |
Polkadot predictions | 60.4% | 77 | $44.05 | 1.38% | 5.54% | $43 502 840 639 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 72% | 56 | $0.251733 | 3.08% | 6.09% | $33 181 970 119 |  |
|
| 10 |  USDC |
USD Coin predictions | 92.4% | 1 | $1.001199 | 0.09% | 0.12% | $32 582 792 876 |  |
|
| 11 |  LUNA |
Terra predictions | 70.4% | 62 | $43.19 | -0.98% | 18.00% | $17 337 793 703 |  |
|
| 12 |  UNI |
UniSwap predictions | 77.2% | 42 | $26.81 | 4.59% | -0.80% | $16 400 871 282 |  |
|
| 13 |  LINK |
Chainlink predictions | 77.6% | 48 | $31.43 | 9.66% | 15.36% | $14 490 192 645 |  |
|
| 14 |  AVAX |
Avalanche predictions | 68% | 61 | $65.44 | -0.09% | 13.84% | $14 415 133 233 |  |
|
| 15 |  WBTC |
Wrapped Bitcoin predictions | 64.8% | 71 | $61 406.63 | 1.11% | 0.83% | $13 619 540 827 |  |
