The largest cryptocurrency in the crypto market has broken down to less than $30K, reaching down to $27,122.66 few minutes ago. This price is considered as the lowest or the cheapest since around January 4th, 2021, retracing few of the gains which have been made in the early bull market.
The price of Bitcoin has dipped from the price of $29K to hit $28,228 on this Wednesday at 20:50 UST within less than 5 minutes.
The whole crypto market is facing the same struggle with the Ethereum ETH as it went down also to around $1,820.23 as a level of support.
However, the traders are being wiped in the middle of the chaos in the previous 24 hours, with more than $1 billion liquidated from the crypto market, according to Coinglass.
This situation puts MicroStrategy much closer to its $21K margin call price, which it may be forced to deploy more of its Bitcoin as loan collateral if the price reach that level.