Bitcoin Faces Major Drop in Value
Bitcoin Plummets by 10.10% in a Single Day
In a surprising turn of events, Bitcoin experienced a significant drop in value, trading at $65,940.0 by 05:15 (09:15 GMT) on the Investing.com Index on Friday. This marks a 10.10% decrease in value, the largest one-day percentage loss since November 9, 2022.
Market Cap Takes a Hit
The downward trend in Bitcoin’s value also impacted its market cap, which fell to $1,320.0B, representing 51.81% of the total cryptocurrency market cap. Previously, Bitcoin had reached a market cap high of $1,435.8B.
Stagnant Performance and Trading Range
Over the past seven days, Bitcoin has seen minimal movement in value, with only a 0.36% change. The cryptocurrency traded in a range of $65,765.6 to $72,398.1 in the previous twenty-four hours and $65,765.6172 to $73,740.8984 in the past 7 days.
All-Time High Record Remains Unattainable
Despite its current price, Bitcoin is still 10.58% lower than its all-time high of $73,740.90, set on March 14. This disparity highlights the volatility and unpredictability of the cryptocurrency market.
Other Cryptocurrency Movements
In the cryptocurrency landscape, Ethereum also experienced a decline, with its value dropping to $3,591.53 on the Investing.com Index, down 9.74% on the day. Additionally, Tether USDt saw a minimal loss, trading at $0.9990.
Ethereum’s market cap stood at $440.3B, accounting for 17.28% of the total cryptocurrency market cap, while Tether USDt’s market cap totaled $103.2B, representing 4.05% of the total cryptocurrency market value.
