Bitcoin temporarily dropped below $61,000, reaching a low of $60,062.00, in the context of massive cryptocurrency sell-offs. Since the beginning of the week, the cryptocurrency has lost nearly 30% of its value, and investors are reevaluating its utility as an alternative to fiat currencies and gold. Additionally, Bitcoin has decreased by nearly 40% in the last year, in contrast to the 61% increase in gold futures contracts. Other cryptocurrencies, such as Ether and Solana, have recorded significant declines, and forced liquidations have impacted the markets, with over $2 billion liquidated this week. Institutional demand for Bitcoin has reversed, and analysts suggest that a drop below $70,000 could lead to further losses. Bitcoin has fallen below the 365-day moving average for the first time since March 2022, signaling a concerning downward trend.
Sources
Bitcoin a scăzut cu 15%, ajungând pentru scurt timp sub 61.000 de dolari, pe măsură ce vânzările masive se intensifică, iar îndoielile cu privire la criptomonede cresc
Bitcoin cade sub 67.000 de dolari, pe fondul intensificării vânzărilor şi al pesimismului privind funcţia monedei digitale
Bitcoin plummets in value again after week of heavy losses
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