Bitcoin Dips Below $60k Again as the Broader Market Record Losses

TL;DR

• Bitcoin is down 6% and trading below $60k for the first time this week.

• Altcoins are also underperforming, with most down 5% or more.

BTC Slips Below $60k

Bitcoin, the leading cryptocurrency by market cap, is reversing last week's gains. It is down 6% in the last 24 hours and is is now trading below the $60k psychological level for the first time this week.

At press time, Bitcoin’s price is $58,854 and could drop lower if the bearish trend continues. Bitcoin’s bearish performance affected altcoins as most are down 5% or more in the last 24 hours.

Ether, the second-largest cryptocurrency by market cap has lost roughly 9% of its value and now trades at $2,450 per coin. ETH is the worst performer amongst the top 10 cryptocurrencies by market cap.

SOL, Solana’s native coin is also down 7% so far today and now trades at $145 per coin. The Open Network’s TON maintains its position in the top 10 as it lost only 1.5% of its value on Tuesday.

With Bitcoin and altcoins all underperforming, the total cryptocurrency market cap has shed 5.78% and now stands at $2.08 trillion.