Cryptocurrencies fluctuate wildly, with Bitcoin falling below $40,000 and Ethereum falling below $3,000.

On January 21, Beijing time, there was a stir in the cryptocurrency market.

At 00:00 on January 21, after a few weeks of trading, Bitcoin fell from $42,000 to $43,000 at once, but the waterfall started to overflow.

According to the press release, the final Bitcoin price fell over $3,000 to $38,786, down 7.1% over the 24-hour period.

Ethereum, another trader, fell below $3,000 over the same period, with its latest move at $2,584, down more than $270 and 8.3% in 24 hours.

Due to the loss of 2 cores, the market value of cryptocurrencies also fell below $2 trillion, and the recent market value was around $1.9 trillion, down 7.4% on the day.

Total cryptocurrency market capitalization has continued to fall for more than two months after previously peaking at $2.93 trillion on November 9, 2021, dropping below $2 trillion this morning.

Market derivatives began to strengthen further as the value of cryptocurrencies declined. According to data from CoinGlass, in the past 12 hours, the market has liquidated around $600 million worth of contracts.

Of this amount, $250 million was lost in Bitcoin contracts, followed by $163 million liquidated in Ethereum contracts, a long-term deal.

At the same time, unreliable Ethereum changes led to numerous DeFi protocol changes, and according to data from the Ouke Cloud Chain browser, DeFi content revenue reached $8.03 million in 24 hours.

Of these, Aave's liquidation is $4.11 million and Compound's liquidation is $3.11 million.

Significant changes will affect the behavior of the cryptocurrency outlook 2022 market. month.

Since 2022, the depreciation of Bitcoin has increased to 11.5%, and according to the data, Bitcoin will find itself in the performance of major assets in 2022. In 2021, Bitcoin returns or will be a good number.

One of the crypto industry's concerns in 2022 is the Fed's escalating rate hike. Fed officials will begin a rapid rally in 2022 at the FOMC meeting in December 2021. At the same pace as in March, rising US inflation is now hurting investors.