Crypto On Nov. 10: Bitcoin Stumbles to Two-Year Low, After Massive Sell-Off

The crypto market continued to make lower lows on Thursday. The world's largest crypto, Bitcoin (BTC), dropped to a two-year low after losing the $16,000 price level for a brief period. It regained the $16,000 peg moments later.

The second-largest cryptocurrency, Ether (ETH), lost all the gains made during the Ethereum Merge rally and is now trading below $1,200.

BTC had support around $19,000 while ETH was expected to hold above $1,500. However, both these support levels were lost on Wednesday.

In the last 24 hours, BTC was down 9.81%, while ETH crashed 10.04%. On the other hand, the trading volume of BTC fell 7.10%, while that of ETH dropped 2.24%.

According to Coinglass, around $664 million was liquidated in the market with $239 million in Bitcoin and $176 million in Ether.

As of 12.30 a.m. ET, BTC and ETH tokens were priced at $16,456 and $1,273, respectively, per data from CoinMarketCap.

The crypto fear and greed index changed to "extreme fear" as the value dropped to 22.

BTC has dipped 19.49% in the last seven days, while ETH's price crashed 24.75% in the same period.

Other top crypto coins that showed bearish movement include Binance Coin (BNB) down 9.58% to $284.11; Polygon (MATIC) down 6.97% to $0.8917; Cardano (ADA) down 4.75% to $0.3486; Dogecoin (DOGE) down 6.11% to $0.08053; and Ripple (XRP) up 7.65% to $0.3584.

The top losers in the crypto market were Lido DAO (LIDO), which was down 19.06% to $0.9996; Near Protocol (NEAR), which slipped 14.33% to $2.17; Solana (SOL), down 30.49% to $15.08; and Curve DAO Token (CRV), which fell 19.29% to $0.6019.

According to the prediction from Bitnation, the SOL token is expected to reach a maximum price of $26.27 by the year-end, while the NEAR token will likely trade around $3.93.

Other popular tokens that showed bearish signs were Tron (TRX), which was down 6.28% to $0.05551; Polkadot (DOT), which dipped 8.34% to $5.66; and Avalanche (AVAX), down 10.54% to $13.72.