BTC Price Falls Below $66,000, Binance USDT at $65,906.64

IconCryptoNewsTerminal Staff29 Jul, 2024

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BTC Price Falls Below $66,000, Binance USDT at $65,906.64

According to Coinnis market monitoring, BTC has given back $66,000. As of now, BTC is trading at $65,906.64 as per the Binance USDT market standard. This drop in value follows a recent surge in BTC prices, which had reached an all-time high of over $67,000 earlier this week. The reasons behind this sudden correction are still unclear, but some analysts believe that it may be due to profit-taking by investors who had bought BTC at lower prices. Others suggest that the correction may be a result of increased regulatory scrutiny of the cryptocurrency market, with the U.S. Securities and Exchange Commission (SEC) recently launching an investigation into several cryptocurrency exchanges. Despite this correction, BTC remains up over 50% year-to-date, and many analysts believe that the long-term outlook for the cryptocurrency market remains positive.

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