Bitcoin has undergone its most significant correction since late 2022, dealing a blow to short-term traders who now face substantial unrealized losses. According to data from Glass node and insights from market analysts, the recent downturn has underscored the resilience and challenges inherent in the digital asset landscape.
Bitcoin’s Deep Correction and Market Impact
Bitcoin, the flagship cryptocurrency, experienced a sharp decline of over 16.5% from its recent high of $63,801 on July 1 to a low of $53,000 by July 5.·
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