Bitcoin Retreats Below $66,000, Cryptocurrency Market Faces Correction

IconCryptoNewsTerminal Staff30 Jul, 2024

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Bitcoin Retreats Below $66,000, Cryptocurrency Market Faces Correction

Bitcoin (BTC) has fallen below $66,000, according to data from CoinMarketCap. As of writing, BTC is trading at $65,978.51 on the Binance USDT market. This represents a drop of over 5% in the past 24 hours, a sign that the cryptocurrency market may be facing a correction. The reasons are unclear, but profit-taking may have contributed to the drop. This correction follows a period of strong growth for BTC, which had recently reached an all-time high of over $69,000. However, the market is still up over 100% year-to-date. Despite the recent pullback, experts remain optimistic about the long-term prospects of BTC and the cryptocurrency market as a whole.

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