Bitcoin Dipped to $60K Losing $7K Since Tuesday’s ATH (Market Watch)

After several days of soaring higher and higher, BTC has corrected strongly in the last 24 hours. It even briefly fell below $60,000 after the surge. The trend was followed by most altcoins, with the market cap losing more than $150 billion from its peak earlier in this week.

In 7 Days, Bitcoin lost $7K

In the past week, the main focus of cryptocurrency was on Tuesday’s launch of the first ever Bitcoin Futures ETF in the United States. The anticipation for this long-awaited product sparked a huge price spike, breaking above its April ATH to chart a new record of $67,000.

It didn’t stay there and the bears began to push it down slowly. Yesterday’s report said that BTC fell to $63,000. However, the correction was not over.

The cryptocurrency lost value over the last 24 hours. It fell to just below $60,000. It meant that BTC had fallen by $7,000 in just a few days.

It has regained some ground and bounced back as of now. It is still down 4% on the day and its market capitalization remains below $1.150 trillion.

BTCUSD Source: TradingView
lts also See Red

Alternative coins are following their lead south. Ethereum came close to surpassing its own ATH of $4,400 a few weeks back, but it failed to do so yesterday, dropping to $3,900. ETH is currently at $4,000 but it’s still 3% below the daily average.

Solana was also just inches away from setting a new all-time record. SOL now trades at $200. Terra, Cardano Coin, Ripple and Polkadot are all in the red.

Avalanche and Chainlink show minor gains. Huobi Token (11%), Fantom (1%), Curve DAO Token ( 10%), Harmony (9%), OKB (7.5%) all show higher increases.

OMG Network and Flow, Flow, SushiSwap and Stacks have all lost the most over a single day. The cryptocurrency market cap has fallen to $2.530 trillion. This means that it has lost $150 billion since its peak two days ago.

Cryptocurrency Market Overview. Source: Quantify Crypto
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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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