Bitcoin keeps going down.
The world's biggest crypto dropped below $59,000 on Thursday, July 4, 2024, hitting lows we haven't seen since late April.
At one point, Bitcoin touched $57,874 on Coinbase before bouncing back a bit to $58,764. That's still a 3.4% drop over the past week.
And now it hits 57k + can be down to 57k.
It's not just Bitcoin experiencing the decline. Ethereum fell 4%, while Solana and Dogecoin took even bigger hits, dropping up to 8%.
The market shake-up has been rough on traders. Over $237.91M in long positions got wiped out in just 24 hours, according to Coinglass.
Kudret Ayyldr at GCM Investment thinks we might see Bitcoin drop to the $48,000-$50,000 range.
The mood in the crypto world is pretty tense right now. The Fear and Greed Index is sitting at 45 out of 100, firmly in the "Almost Fear" zone.
Source: Coin Market.
