Bitcoin’s daily closing was the lowest since the summer of 2021. The majority of altcoins are still suffering from huge price decreases. Bitcoin’s decline has continued in the last 24 hours, as the asset continues to lose value. Ripple, Solana, Cardano, Shiba Inu, Polkadot, and other cryptocurrencies are in a similar or even worse situation, with large price declines. NEAR Protocol, on the other hand, is one of the rare winners.
Bitcoin’s Dump to $33K
Following the previous FOMC meeting, the principal digital asset soared above $40,000 just four days ago. Although it failed to break through this barrier, it remained near to it for several hours before the market’s attitude completely shifted.
BTC dropped over $4,000 in just a few hours, reaching a multi-week low of $36,000. While that was a significant price reduction in and of itself, it wasn’t the end. As previously reported, bitcoin fell below $35,000 to set a new local low – the lowest since late January.
However, that was not all, as the cryptocurrency dropped to little over $33,000 once more. Since the summer of last year, this is the lowest daily close price.
Bitcoin is currently struggling around that level. As a result, its market value has dropped yet further, to $635 billion.