Bitcoin Plunges 10% Amid Market Volatility, Still Hits New ATH

Bitcoin tumbled 10.02% to $83,747.4 by 20:43 (01:43 GMT) on the Investing.com Index, marking its steepest one-day loss since November 2022. Despite the decline, Bitcoin hit a fresh all-time high earlier in the week, reflecting ongoing volatility.

The drop slashed Bitcoin’s market cap to $1.69 trillion, now representing 60.70% of the total cryptocurrency market. At its peak, Bitcoin’s market cap stood at $2.1 trillion. Over the past 24 hours, BTC fluctuated between $83,747.4 and $86,756.4, with a seven-day range spanning from $78,329.79 to $94,986.50. Bitcoin has lost 7.31% over the past week, with trading volume reaching $70.1 billion, accounting for 41.11% of the total crypto market’s volume.

Ethereum also faced a sharp selloff, plunging 16.73% to $2,047.59, bringing its market cap to $253.5 billion, or 9.10% of the total crypto market. Meanwhile, Tether (USDT) held steady at $0.9999, dipping a marginal 0.03%, with a market cap of $142.4 billion, or 5.11% of the overall market.

Despite Bitcoin’s sharp correction, its overall trajectory remains bullish, with strong investor interest and increasing institutional adoption. However, traders should brace for heightened volatility as the market digests recent gains.

Bitcoin’s price action continues to dominate the crypto landscape, influencing broader market sentiment. With BTC at record highs and Ethereum facing heavy sell pressure, the crypto market remains unpredictable, offering both risks and opportunities for investors.