Week Starts With Drop: BTC Down 11%, ETH 16%, BNB 14% and ADA 11%

While cryptocurrencies start the week with a noticeable decline, it seems that Elon Musk is behind the withdrawal.

As we start a new week, we see the cryptocurrencies turn red. Leading cryptocurrency #Bitcoin (BTC) has dropped more than 12% in the past 24 hours, #Ethereum (ETH) over 16%, #Binance #Coin (BNB) over 14% and #Cardano (ADA) over 11%

🔥The Reason for the Decline Elon Musk🔥
#Tesla CEO #Elon #Musk was generally associated with the ups and downs in the cryptocurrency ecosystem until recently. However, it seems that the statements made by Musk in recent days have negatively affected crypto currencies.

Musk answered a post on Twitter last night that #Tesla will be able to sell all of his Bitcoins in the coming days as "absolutely" . In fact, the Twitter post that Musk responded to is exactly as follows:

↘️Bitcoin followers may want to beat themselves up when they see Tesla selling their Bitcoin assets in the next quarter. Considering the hate Musk faced, I wouldn't blame him.

Mr. With this statement, the account named Whale states that Musk can sell all of his company's BTC due to the bad criticism he has encountered in the crypto money market recently , and Musk replies to this post as "Absolutely" .

This situation was perceived as a big selling signal in the market and serious retractions were seen in a short time.

🚨Bitcoin Holds at $ 42,000
After Musk's announcement, Bitcoin, which , so to speak , has gone into free fall , seems to have stopped its decline at $ 42,200 , and the $ 42,000 band is thought to once again show itself as an important support.

If the decline continues after this point, the next important support will be in the $ 40,000 band, analysts say. Also, in an upward move, it is stated that first $ 45,000 and then $ 46,500 could act as strong resistances.

The rise of altcoins , which suffered great losses with Bitcoin , is largely due to BTC. is thought to be dependent on .