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The global crypto ecosystem witnessed a notable decline after recording consecutive green days over the past month.
On March 5, Bitcoin (BTC) reached a new all-time high of $69,170 with a total market cap of over $1.4 trillion. However, the flagship cryptocurrency took a deep dive below the $60,000 mark as the market started to cool down.
CryptoQuant’s head of research Julio Moreno showed a chart on X that indicated the Bitcoin heatmap since the start of the year. As BTC surpassed the $60,000 mark, data showed the leading digital currency in the overheated zone.
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