The price of Bitcoin stabilized at $66,000, coinciding with the launch of Ethereum ETFs
Major and mid-sized altcoins saw a notable decline, with Avalanche and FET falling the most, while PEPE and MKR saw the biggest gains.
Bitcoin price stabilizes above $66,000:
The largest digital currency, Bitcoin, headed south last Friday morning, as the price of the coin fell to a multi-day low, recording below $63,500.
Joe Biden announced his withdrawal from the 2024 election race, leading to an immediate $2,000 drop in the price of Bitcoin on Sunday.
Then, the price of Bitcoin rose more than $3,000 by Monday, reaching a 6-week peak of $68,400.
This pushed the price of Bitcoin below $65,600 hours ago, but Bitcoin has managed to recover some losses and is now trading above the $66,000 level.
These declines came with outflows of around $80 million from Bitcoin ETFs, breaking the positive 12-day streak of inflows.
Bitcoin's market cap fell to $1.3 trillion on coingecko, while its dominance over altcoins remained at 51.7%.