Bitcoin has dropped below $26,000 after briefly surpassing that level and experiencing a price flash crash. Other cryptocurrencies like ETH and BNB have also seen declines of 1.5%. Bitcoin’s price has been range-bound between $29,200 and $29,500 before attempting to break out towards $30,000. However, it was rejected and fell back to around $29,000. Speculations about SpaceX selling its bitcoin holdings caused a significant drop to $25,300, the lowest price in over two months. Although Bitcoin briefly rebounded and reclaimed $26,000, it has since declined by 1-2% in the past 24 hours.
Key points:
1. Bitcoin’s price has dropped below $26,000 after a flash crash.
2. ETH and BNB have also experienced daily declines of 1.5%.
3. Bitcoin was range-bound between $29,200 and $29,500 before attempting to break out towards $30,000.
4. Speculations about SpaceX selling its bitcoin holdings caused a significant price drop to $25,300.
5. Bitcoin’s market cap is close to falling below $500 billion, with a dominance over altcoins at 48.1%.
Hot Take:
Bitcoin’s volatility continues as it struggles to maintain its price above $26,000. The recent flash crash and speculations about SpaceX’s bitcoin holdings have added to the uncertainty surrounding the cryptocurrency. It remains to be seen how Bitcoin will perform in the coming days, as market sentiment and external factors continue to impact its price.
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