Bitcoin Back Above $67k After Wednesday’s Market-Wide Selloff

TL;DR

• Bitcoin slipped below the $66k zone yesterday as stocks, bonds, gold, and oil declined on Wednesday.

• The leading cryptocurrency is now trading above $67k.

BTC Recovers Above $67k After Yesterday’s Decline

The cryptocurrency market is performing well following yesterday’s market-wide selloff. Bitcoin dropped to the $66k level on Wednesday following a selloff that saw stocks, bonds, gold, and oil underperform.

However, Bitcoin has recovered and is trading above $67k again. At press time, Bitcoin’s price stands at $67,038, up by less than 1% in the last 24 hours. While Bitcoin has recovered, Ether continues to underperform.

The second-largest cryptocurrency by market cap is down more than 2% and has dropped below $2,600 per coin. Despite altcoins underperforming, Solana stood out as the cryptocurrency added 5% to its value. Thanks to its rally, Ether has hit the $173 mark for the first time since July. SOL is up 14% in the last seven days, outperforming the other major cryptocurrencies. 

Despite the volatile market conditions, the total cryptocurrency market cap remains above the $2.3 trillion mark.