Why is Bitcoin price down today?
Bitcoin price is down today as an uptick in liquidations and a wider market correction impact investor sentiment.
Bitcoin’s (BTC) price dropped 3.5% to as low as $66,584 on May 31 as the broader market correction reinforced BTC’s resistance at the $69,000 level. BTC is now trading 9% below its $73,835 all-time high reached on March 14.
Bitcoin price fell below $68,000 at the Wall Street open on May 31, causing a marketwide sell-off that saw the global crypto market capitalization drop 2.2% over the past 24 hours to rest at $2.5 trillion, according to data from CoinMarketCap.
Other top 10 non-stablecoin cryptocurrencies are also flashing red, with Ether (ETH) down 0.8% over the last 24 hours. Solana (SOL), BNB Chain’s BNB, Cardano (ADA) and Dogecoin (DOGE) have slumped more than 2% over the same time period.
Bitcoin price is down today as an uptick in liquidations and a wider market correction impact investor sentiment.
Bitcoin’s (BTC) price dropped 3.5% to as low as $66,584 on May 31 as the broader market correction reinforced BTC’s resistance at the $69,000 level. BTC is now trading 9% below its $73,835 all-time high reached on March 14.Bitcoin price fell below $68,000 at the Wall Street open on May 31, causing a marketwide sell-off that saw the global crypto market capitalization drop 2.2% over the past 24 hours to rest at $2.5 trillion, according to data from CoinMarketCap.Other top 10 non-stablecoin cryptocurrencies are also flashing red, with Ether (ETH) down 0.8% over the last 24 hours. Solana (SOL), BNB Chain’s BNB, Cardano (ADA) and Dogecoin (DOGE) have slumped more than 2% over the same time period.Read more