Bitcoin (BTC) experienced a decline in value after reaching $70,000 earlier this week. The leading cryptocurrency has struggled to maintain its momentum and has dropped to $67,000, indicating a significant slowdown.
At the same time, the meme coin Pepe (PEPE), which recently reached new highs, also suffered a notable decrease, falling to around $0.00001313 and losing nearly 15% in just one day. Other cryptocurrencies like SHIB, DOT, DOGE, and WIF also experienced substantial losses.
The volatility of Bitcoin’s price was further intensified by the news of the launch of an Ethereum ETF, which initially drove the coin to almost $72,000. However, this rally was short-lived as Bitcoin faced rejection, causing it to fall to $66,400. After a brief recovery, bringing it back to around $68,000, the current BTC price stands at $68,115.75, representing a 0.5% increase in the last 24 hours.
The cryptocurrency market today was characterized by losses for Binance Coin, which dropped below $600, and Ethereum, which experienced a 2% decline to $3,750, and nearly 4% in the past week. The total value of the cryptocurrency market has seen a reduction of over $60 billion, indicating a widespread retreat.
PEPE and WIF, which had shown remarkable performance in recent days, also faced setbacks. While PEPE plummeted, WIF experienced a drop of over 11%. Additionally, altcoins such as SHIB, DOT, DOGE, SOL, and NEAR have witnessed significant declines in their valuations.
It is important to note that the views and opinions expressed in this article, including those of the author, are solely for informational purposes and should not be considered financial or investment advice. Investing or trading cryptocurrencies carries the risk of financial loss.
In the editor’s choice section, Bitcoin continues to maintain its position around $69,000, while UNI and PEPE lead the gains among altcoins. Ethereum also advances to $4, while PEPE sets a new record.