Cryptocurrency

Bitcoin’s value drops by 11% in recent market downturn, causing concern among investors.

The Recent Bitcoin Plunge: A Detailed Overview

Bitcoin’s Price Drop

Bitcoin faced a significant drop in value, with a 10.61% decrease on Tuesday, trading at $60,271.2 by 14:57 (19:57 GMT). This marked the largest one-day percentage loss since March 5.

Market Cap and Trading Range

The downward trend pushed Bitcoin’s market cap to $1,214.6B, representing 51.92% of the total cryptocurrency market cap. The cryptocurrency traded between $60,271.2 and $69,063.1 in the previous twenty-four hours.

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Recent Performance and Volume

Despite a 8.04% increase over the past week, Bitcoin’s current price is still 12.73% lower than its all-time high of $69,063.09 on March 5. The volume of Bitcoin traded in the past twenty-four hours stood at $90.4B, accounting for 40.19% of the total cryptocurrency volume.

Other Cryptocurrencies

Ethereum saw a 4.85% decline, trading at $3,257.71, while Tether USDt experienced a 0.06% loss, trading at $1.0001. Ethereum’s market cap was $416.5B, representing 17.80% of the total cryptocurrency market cap, with Tether USDt at $100.1B or 4.28% of the total market value.

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