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Bitcoin (BTC) and the crypto market start the new month in the dark red. Yesterday, on the first day of April, the bitcoin rate already down considerably. However, this was taken a step further last night. The price has taken a big dive in a short time, despite the rest of the market.
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Bitcoin price drops 5%
Bitcoin’s price hovered mostly just below $70,000 yesterday. Only at the beginning of the evening was the support level of $69,000 briefly lost. For a period of several hours, the price moved several hundred dollars above $68,000.
In the middle of the night, just after 4 a.m., bitcoin takes a sharp dive. In just an hour, Bitcoin lost almost $4,000 of its value. From a price of around $69,500, the price fell to a low of roughly $66,000, where it currently sits just above.
The bitcoin price of the past 24 hours. – Source: CoinMarketCap
Market sentiment has taken a serious hit. This while Bitcoin posted its highest weekly and monthly candle about a day and a half ago. The psychological level of $70,000 has now suddenly disappeared far from view.
Should the price skyrocket again, the zone around $69,000 could provide resistance. On the way down, the level around $60,000 is important to keep an eye on.
At the time of writing, the BTC price on crypto exchange Bybit powered by SATOS is equal to $66,465. On the Dutch crypto exchange Battle the BTC price in euros therefore amounts to 62,079. Compared to 24 hours ago, BTC is down 5.32%.
Crypto top 10 down, dogecoin loses 12%
Almost every altcoin has lost at least a few percent of its value. The entire top 10 crypto coins, with the exception of stablecoins, are currently at a lower price than yesterday. In fact, most of them are doing even worse than bitcoin at the moment.
Ethereum (ETH) is down 5.93%, solana (SOL) is down 7.93%, ripple (XRP) is down 4.16%, cardano (ADA) is down 7.48%, and avalanche (AVAX) is down 9.88 %. Dogecoin (DOGE) takes the cake with a decline of 12.10%.
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