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After a few consecutive days of charting impressive gains and recording new ATHs, Bitcoin’s price has finally retraced in a violent fashion to a weekly low of $67,000.BTC’s recent ascent that drove the asset from $61,000 to over $73,000 within ten days or so. The latest record came yesterday when the primary cryptocurrency neared $74,000 for the first time ever.
The alternative coins followed suit with multi-year records from the likes of Ethereum, which surpassed $4,000, SOL, which went as high as $180, and BNB, which soared past $600. BTC first slumped to $70,000, but the bears kept pushing it south, and the asset tumbled all the way down to $67,000 hours ago, a level not seen in a week.The altcoins are also deep in the red, with ETH and BNB dumping by 7% to under $3,700 and $575, respectively.according
to CoinGlass. The total value of wrecked positions is just shy of $700 million, with the single-largest taking place on OKX, which was worth over $13 million.One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions.
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