The cryptocurrency market was turned upside down by the decline that came during the night hours. Bitcoin, which was traded at $63,000, fell to $58,000. Altcoins experienced greater losses in value. Bloomberg ETF analyst James Seyffart wrote that the current situation in Bitcoin resembles the 2019-2020 period. Seyffart emphasized that Bitcoin has been moving between $50 and $70,000 for six months and commented, "The current situation is reminiscent of the period between mid-2019 and early 2020, when the price was moving between $7 and $10,000." $BTC $ETH $SOL