Why Is Bitcoin Down Today?
Another $700 Million in Liquidations as Bitcoin (BTC) Dumps to $61K, Altcoins Bleed Out
Bitcoin (BTC) and other cryptocurrencies have seen precipitous declines in morning trading today. Even though BTC is still up more than 50% year-to-date, the world’s oldest cryptocurrency is down more than 6% over the past 24 hours.
This means bitcoin—which soared in recent weeks to new all-time highs above $73,000—is back down to $63,000. That is a psychological hurdle that it spent nearly the entire “crypto winter” of 2022 and 2023 trying to clear.
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