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The decline in Bitcoin that started last evening is still ongoing today. The entire market has been affected, resulting in the price falling to the $61,000 level. So, what is currently happening in the market?
What Is the Current Price of Bitcoin?
BTC, which had been the center of attention with consecutive all-time high (ATH) renewals last month, seems to be facing issues as it approaches the halving. The price of BTC recently fell to $60,500 but has since recovered slightly, climbing to $62,422.
The cause of this price drop may not be the halving but rather the tensions between Israel and Iran. There have been recent reports of an attack by Iran on Israel.
Following the news, Israel also made a statement, which continues to create uncertainty in the market. As of the time of writing, BTC’s market capitalization has also fallen below $1.3 trillion.
Additionally, BTC’s trading volume has decreased by 4% during this period, dropping below $40 billion. Considering the past Russia-Ukraine conflict, it is already a subject of curiosity how the market will react.
Current State of Altcoins
While these events unfold in Bitcoin, the focus has shifted to altcoins. At the time of writing, Ethereum has fallen below $3,000, trading at $2,915, while BNB is at $523, and SOL is trading at $126.5.
The biggest loser in the top 10 is DOGE, which has fallen over 18% to $0.14. Among the top 15, the altcoin that seems to be holding up best is TRX. At the time of writing, TRX has only seen a 3% decrease and continues to find buyers at $0.11.
What developments will occur in cryptocurrencies in the coming days is already a subject of interest.
