Things seemed to be heading in the right direction again, but Bitcoin (BTC) collapsed like pudding again today. While the price managed to remain just above the April low yesterday, it has now fallen further to the lowest level since November 2024.
It’s a bloodbath on the market, but surprisingly enough, most altcoins are taking less of a hit than Bitcoin at the moment.
BTC price drops 6 percent in 3 hours
All the nice profits that Bitcoin managed to accumulate after Donald Trump’s election victory have now disappeared. The Bitcoin price has fallen below $73,000 for the first time since November 6, 2024.
In three hours, the Bitcoin price has fallen by more than 6 percent. At 5 p.m., $78,000 was still paid, but at 8 p.m. it was only $72,900.
Since last Thursday, the price has already fallen by more than 18 percent. That day it was still well above $84,000, but that level is now far out of sight. In mid-January, even $98,000 was reached.
At the time of writing, Bitcoin is trading at $73,700, down 5.75 percent from 24 hours ago. According to analyst Altcoin Sherpa, we have to hope that the weekly candle does not close here.
He sees the $74,000 as the last rescue to prevent a further fall to $67,000. That is the moving average of the past 200 weeks.
Ethereum is taking the lead (again).
For a change, it is not the altcoins that are being slaughtered the hardest. The losses are still not bad, but compared to Bitcoin it is not too bad.
Ripple (XRP) is down 3.40 percent, Solana (SOL) is down 5.38 percent and Dogecoin is down 3.07 percent. Ethereum (ETH) is again having a remarkably difficult time with a loss of 6.99 percent. The largest altcoin was also at the forefront of the correction last weekend.
Source: https://newsbit.nl/bitcoin-koers-crasht-naar-laagste-niveau-sinds-november-2024/
