BTC slid to 6-week lows on Sunday, losing over $60 billion in market value
The crypto markets have taken a beating over the past few days, with Bitcoin (BTC) leading the charge downward. BTC slid to 6-week lows on Sunday, losing over $60 billion in market value.
The sell-off appears to have been driven by a combination of factors, including BTC’s struggle to break above the $10,000 level and a general sense of bearishness among traders. Ethereum (ETH), XRP, and other major cryptos have all followed BTC lower over the past few days.
It’s still early days in the current sell-off, so it’s hard to say where things will go from here. However, if history is any guide, we could see BTC and the rest of the crypto markets rebound in the coming days or weeks.
The value of Bitcoin dropped below $19,000 on Tuesday, as the cryptocurrency’s rally appears to be losing steam.
The price of Bitcoin has been volatile in recent weeks, as investors have been trying to figure out where the digital currency is headed next. After hitting a high of nearly $20,000 last week, the price of Bitcoin has been fluctuating between $18,000 and $19,000.
It’s unclear what’s causing the latest drop in the price of Bitcoin, but some analysts say that the cryptocurrency may be due for a correction after its recent run-up.
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