Bitcoin's fall under $48K will open the way to $41K or $30K
The crypto market has lost 4.2% of its capitalisation in the past 24 hours and now stands at $2.27 trillion. From the peak levels reached a month ago, capitalisation has dropped by 23%, allowing us to speak of the start of a bear market for the sector, at least like the one we saw in April-July. The cryptocurrency fear and greed index dropped from 29 to 24, slipping into the extreme fear territory.
Alarmingly, the overall capitalisation this time was pulled down by altcoins. The first cryptocurrency lost around 3% over the day, returning to $48.3, where the 200-day moving average runs and touched the oversold area again.
A significant short-term indicator for the market promises to be the 200-day average for Bitcoin. An ability to bounce back above that line would indicate bullish sentiment prevails and promises new attempts to climb above $50K or $60K this month. A sharp fall would formally clear the way for a deeper correction to $41K or even $30K.
BTC/USD Daily Chart
ETHUSD has been losing 6% over the last 24 hours and is dangerously close to the psychologically significant $4000 level. The latest momentum of the decline pushed the first altcoin away from the 50-day moving average, and a deeper correction may follow. Ether fell out of the bullish uptrend from the end of September and went into a prolonged consolidation. The declines yesterday and this morning brought the coin back to the lower end of the consolidation range, and a dip under $4000 would open a straight road down with a potential target at $3300 or further to $2700.
Bitcoin’s share of the crypto market has started to rise again, reaching 40.3%. We see this growth in a falling market as an additional sign of fear of the crypto market.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 69.6% | 54 | $28 035.57 | 1.66% | 4.95% | $541 839 096 808 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 78% | 39 | $1 775.07 | 1.02% | 1.84% | $217 221 883 335 |  |
|
| 3 |  USDT |
Tether predictions | 95.6% | 1 | $1.000976 | -0.19% | -0.14% | $78 562 701 230 |  |
|
| 4 |  BNB |
Binance Coin predictions | 76.4% | 51 | $323.46 | -0.40% | -2.95% | $51 071 426 316 |  |
|
| 5 |  USDC |
USD Coin predictions | 94.4% | 2 | $0.999601 | 0.01% | -0.01% | $34 392 573 197 |  |
|
| 6 |  XRP |
XRP predictions | 85.2% | 21 | $0.428645 | -4.23% | 14.37% | $21 839 846 254 |  |
|
| 7 |  HEX |
HEX predictions | 58.8% | 82 | $0.096384 | -19.91% | 10.66% | $16 714 004 185 |  |
|
| 8 |  ADA |
Cardano predictions | 76% | 43 | $0.362541 | -2.33% | 6.05% | $12 588 135 268 |  |
|
| 9 |  STETH |
Lido stETH predictions | 96% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 10 |  DOGE |
Dogecoin predictions | 74% | 51 | $0.075059 | -2.95% | 0.21% | $9 958 117 300 |  |
|
| 11 |  MATIC |
Polygon predictions | 76.4% | 48 | $1.11 | -1.01% | -7.45% | $9 708 811 453 |  |
|
| 12 |  SOL |
Solana predictions | 74.4% | 52 | $21.67 | -0.29% | 6.07% | $8 316 110 713 |  |
|
| 13 |  BUSD |
Binance USD predictions | 92% | 1 | $0.996930 | -0.27% | -0.39% | $8 039 266 757 |  |
|
| 14 |  DOT |
Polkadot predictions | 71.6% | 49 | $6.16 | -0.32% | -4.71% | $7 244 608 987 |  |
|
| 15 |  LTC |
Litecoin predictions | 68% | 58 | $91.86 | 0.28% | 9.72% | $6 664 265 906 |  |
