After several days of rising higher and higher, BTC corrected harshly over the past 24 hours and even briefly fell below $ 60,000. Most altcoins followed suit, and the entire market cap lost more than $150 billion since its peak earlier this week.
Bitcoin lost $ 7,000 in days
Over the past week, the focus has been on the very first Bitcoin Futures ETF that went live in the United States on Tuesday. The euphoria for such a long-anticipated product propelled a massive price surge for the digital asset, which broke above its April ATH and charted a new one a day later at $67,000.
However, he did not stay there and the bears began to gradually push him south. As reported yesterday, BTC dropped to $63,000, but the correction was far from over.
Over the past 24 hours, the cryptocurrency has continued to lose value. This time, it fell to just under $60,000. As such, it meant that BTC had declined by more than $7,000 in a matter of days.
For now, he has bounced back and gained ground. Nevertheless, it’s still 4% down on the day, and its market capitalization is below $1.150 trillion.
Alts See also Red
Alternative coins followed their leader south. Ethereum was on the verge of breaking its own ATH to nearly $ 4,400 a few days ago, but failed and fell to $ 3,900 yesterday. As of now, ETH stands at just over $4,000, but it’s still 3% down in a day.
Solana was also just inches away from painting a new historic record. Now, though, SOL trades at $200. Binance Coin, Cardano, Ripple, Polkadot, and Terra are also in the red.
Minor gains are evident with Dogecoin, Avalanche, and Chainlink. More increases come from Huobi Token (11%), Fantom (11%), Curve DAO Token (10%), Harmony (9%), and OKB (7.5%).
In contrast, OMG Network, Flow, The Graph, SushiSwap, Stacks and ICON lost the most in one day. The cryptocurrency market cap is down to $2.530 trillion, meaning it has shed off $150 billion since the peak two days ago.
