Bitcoin and other cryptocurrencies continue their downward trend as evening approaches. At the time of writing, Bitcoin has fallen below $66,000. The decline in BTC is also impacting altcoins.
Bitcoin Price Falls to $65,956
As I write this article, Bitcoin is trading at $65,956. This has affected other cryptocurrencies, including Ethereum.
Ethereum is trading at $3,556, while BNB coin has retreated to $581. Looking at Solana, its price has pulled back from $190 to $179. ADA coin is at $0.66, and XRP is at $0.60 levels. The most affected by the decline is WIF, with a drop exceeding 22%.
Will the Downtrend Continue?
There has been talk of a correction for Bitcoin for a long time. However, there were question marks about when it would happen. Today’s movements indicate a total pullback of approximately $7,770 in price.
The decline corresponds to roughly 10%. However, it is also possible that Bitcoin may encounter a rebound from here. If buying resumes, we can say that the BTC price could easily embark on a journey towards $70,000.
