Bitcoin Slips Below $70k as Market Slightly Retraces

Twitter icon  •  Published 3주 전  •  Hassan Maishera

Bitcoin has dropped below $70k after rallying by 5% earlier this week, with the broader crypto market undergoing a retracement.

TL;DR

  • BTC is trading below the $70k level after losing less than 1% of its value.

  • The total cryptocurrency market cap remains below $2.6 trillion.

BTC Dips Below $70k

Bitcoin has performed excellently since the start of the week but has slightly retraced following its rally. The world’s leading cryptocurrency by market cap is now down by less than 1% and is trading below $70k.

At press time, BTC is trading at $69,403, down by 0.6% in the last 24 hours. The poor performance comes after BTC added more than 5% to its value earlier this week. 

Despite the retracement, Bitcoin could rally higher in the short term and surpass its all-time high price of $73k. 

With Bitcoin underperforming, altcoins are also in the red. Solana has lost 2% of its value and is now trading at $177 per coin. Meanwhile, BNB, XRP, and Dogecoin are all down by more than 1% in the last 24 hours.

The Open Network’s TON is the best performer amongst the top 10 cryptocurrencies by market cap, up by more than 2% so far today. It maintains its position as the 9th largest cryptocurrency by market cap and is trading at $6.46 per coin.

However, the total cryptocurrency market cap continues to stay below $2.6 trillion, down by less than 1% in the last 24 hours.

 

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.