The bitcoin (BTC) price took a big hit yesterday. The price had been rock solid above $66,000 for several days, but yesterday the world’s largest crypto could not prevent a bloodbath. Bitcoin has logically dragged the rest of the market down with it and, as is often the case, altcoins are the ones that have been hit the hardest.
BTC price plummeted
The bitcoin price has done its utmost in recent days to continue its rise, but the resistance around $67,000 has thrown a spanner in the works several times. Bitcoin has made several attempts to break this level since Monday, but each time with little success.
Yesterday around 7:00 am, bitcoin last touched $67,000. Once again the level could not be conquered. However, just like on Monday and Tuesday, there was no immediate rejection. During the morning and the first hours of the afternoon, the price moved sideways several hundred dollars above $66,000.
Around 3:00 PM the price still collapsed like pudding. In a short time, BTC plunged below both $66,000 and $65,000. In the evening the price also fell below $64,000, with $63,600 as the absolute bottom.
The price zone around $64,000 represents an important support level for BTC, which should prevent a further decline towards $60,000. Should BTC dare to look higher again, the resistance around $67,000 is logically the next major obstacle.
At the time of writing, the BTC price on crypto exchange Bybit powered by SATOS is equal to $64,236. On the Dutch crypto exchange Bitvavo, the BTC price in euros amounts to 60,018. Compared to 24 hours ago, BTC is down 3.74%.
Altcoins deep in the negative
The picture in the rest of the crypto market is even bleaker. The vast majority of altcoins have lost more in percentage terms than the king of cryptocurrencies. Within the entire top 100, only a few have escaped a decline.
Looking at the largest 10 crypto coins, you can see that everyone has fallen by at least a few percent. Ethereum (ETH) is the only one that is currently doing better than bitcoin, or rather ‘less bad’. The Ethereum price has fallen by 2.95% to $3,160 in the past 24 hours.
The rest pays it all to BTC. For example, solana (SOL) has fallen by 7.05%, ripple (XRP) by 4.03%, dogecoin (DOGE) by 6.62% and cardano (ADA) by 6.22%.
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