BTC retreats below $55,000, currently trading at $54,994

IconCryptoNewsTerminal Staff04 Jul, 2024

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BTC retreats below $55,000, currently trading at $54,994

According to Coinnes market monitoring, BTC has dropped below $55,000, currently trading at $54,994 on the Binance USDT market. This marks a significant decline from the all-time high of $69,000 reached in November 2021. The reasons behind the recent drop are unclear, but some analysts believe it may be due to profit-taking or concerns over regulatory crackdowns. Despite the recent decline, BTC remains the most valuable cryptocurrency in the world, with a market cap of over $1 trillion.