Today, Bitcoin‘s price attempted but couldn’t convincingly break through the $71,000 mark. Following this unsuccessful effort, the digital currency experienced a significant decline, sliding down to approximately $65,000.
Several altcoins have experienced significant setbacks, with XRP, SOL, DOGE, TON, and ADA among those losing over ten percent in value.
Earlier reporting by CryptoPotato indicated that Bitcoin struggled to surpass the $71,000 mark, but this effort was unsuccessful. Instead, bears took control and drove the cryptocurrency downward towards $70,000.
Despite the earlier caution that things could get worse, Bitcoin’s price took a nosedive, reaching a weekly low of approximately $65,000.
BTC regained some value since then and is currently priced at approximately $67,000. However, its value has dropped by nearly 5% compared to the previous day.
An easier way to say this is: The prices of other cryptocurrencies have dropped significantly more than Bitcoin did. For example, Ethereum has lost around 8% of its value and is currently worth only $3,230.
These cryptocurrencies – SOL, XRP, DOGE, TON, ADA, AVAX, BCH, SHIB, and DOT – have caused significant losses with each of them experiencing double-digit percentage declines daily.
Traders with heavy investments in the markets have been significantly affected by recent dramatic price changes. In just the last hour, liquidation events have resulted in approximately $500 million in losses. This amount exceeds $800 million over the past 12 hours, as reported by CoinGlass.
Approximately 300,000 trading accounts were closed with losses over the last 24 hours. The biggest single loss occurred on OKX, exceeding $7 million.
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2024-04-12 22:42