Bitcoin experienced a significant price drop, reaching $69K, which caused a major correction in the crypto market. This led to a reduction of 3.10% in the total market cap, with further consequences observed as the day progressed.
The ongoing bearish momentum resulted in an additional 0.80% intraday slip-down, culminating in a loss of approximately $100 million across the crypto market.
This development has led analysts to speculate whether Bitcoin will recover to $73.8K or experience further declines to $65.4K.
