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Bitcoin price today: In red as U.S. election jitters shake crypto markets

After hitting its second-highest price this year at $73,600, Bitcoin dropped over 6.5% in the last three days, settling below $69,000 yesterday with a 5% fall in the past 24 hours. Ethereum followed suit, dropping 4.59% to $2,521.48, as the general market sentiment turned bearish.

Other altcoins also took a hit. Solana slipped by 4.00%, now priced at $168.03, and Cardano is down 3.01% at $0.3465. Polygon saw a 1.81% dip to $0.3189. Even Dogecoin, known for its resilient community, couldn't escape the pullback, plunging 15.13% to $0.0416.

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Bitcoin (BTC), the world’s leading crypto, dropped below $70,000 after reaching a high of $72,000 the previous day, as investors exercise caution with the upcoming U.S. Presidential election. Major altcoins, including Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC), also traded in the red, reflecting a market-wide pullback. CoinMarketCap’s Market Fear & Greed Index showed a reading of 59 (Greed) out of 100, indicating an overall cautious optimism among traders.

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Why is the crypto market down today?

The crypto market is down today, following a bearish performance from US equities markets and the increasing strength of the US dollar.
The total crypto market capitalization has dropped by approximately 1.5% in the last 24 hours to reach $2.3 trillion. The drop in market cap includes losses from Bitcoin BTC tickers down $67,787 and Ether BTC tickers down $67,787, which have fallen by around 1.6% and 2.8%, respectively.

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Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — landed in the greens across the board as the overall Market Fear & Greed Index stood at 56 (Neutral) out of 100, as per Coin market cap data.$BTC $ETH

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