Bitcoin Price Drops Below $68,000
CryptoNewsTerminal Staff31 May, 2024
Bitcoin Price Drops Below $68,000
Bitcoin (BTC) has fallen below $68,000, according to CoinMarketCap data. At the time of writing, BTC is trading at $67,970.59 on the Binance USDT market. This marks a significant drop from Bitcoin's all-time high of $69,000, which it reached on November 10th, 2021. The price of Bitcoin has been volatile in recent weeks, with several sharp drops and recoveries. It is unclear what caused the latest drop in price, but it is likely due to a combination of factors, including profit-taking and concerns over the regulatory environment. Despite the recent drop in price, Bitcoin remains the most valuable cryptocurrency in the world, with a market capitalization of over $1.2 trillion. It is still too early to say whether this is the start of a bear market for Bitcoin, but it is worth noting that the cryptocurrency has faced similar price drops in the past and has always recovered.
