On Friday, August 19, prices of the first cryptocurrency fell below $22,000. According to CoinGecko, the asset has lost 7.3% in the past day.

At the time of writing, Bitcoin is trading above $21,760.

Ethereum’s price has retreated from the $2,000 mark reached on August 13 amid news that the Goerli testnet’s transition to the Proof-of-Stake consensus algorithm has been completed.

Currently, the second-largest cryptocurrency by capitalization is holding close to $1,735, down 6% in one day.

Crypto assets in the top 10 by capitalization have moved into the red zone after flagships, excluding stablecoins. Cardano and Dogecoin show the biggest declines – 13.2% and 13.7% respectively.

According to Coinglass, $552 million of liquidation positions in the futures market have been liquidated in the last 24 hours. Of that amount, $203 million was in bitcoin and $140.8 million in Ethereum.

The total capitalization of the cryptocurrency market is just over $1 trillion. BTC dominance index – 38.3%, ETH – 19.2%.

Earlier, Peter Schiff, head of Euro Pacific Capital, was skeptical that digital gold would reach new heights. According to him, the first cryptocurrency is more likely to continue falling below $10,000 and below.

Recall that Mike Novogratz, head of Galaxy Digital, predicted Bitcoin to be hedged in the $20,000-30,000 range.

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