Bitcoin Price Volatility and Market Correction
The price of Bitcoin briefly dropped below $41,000 earlier today, reversing almost a week’s worth of gains before recovering. Other major cryptocurrencies like Ethereum, XRP, Solana (SOL), and Cardano (ADA) also experienced a decline of over 5%. According to TradingView, Bitcoin saw a sudden 6% dip from $43,233, hitting a low of $40,659 at 2:13 am on Dec. 11 (UTC). This sharp downturn quickly wiped out the gains Bitcoin had made during the previous bullish week.
Ethereum, on the other hand, fell from its previous price of $2,330 to as low as $2,145, marking a 7.9% dip in the same time frame. Other major altcoins like XRP, Solana, Cardano, and Polkadot also experienced fluctuations and recorded losses of over 5%, following the same pattern as Bitcoin and Ethereum.
As of the time of writing, Bitcoin has recovered slightly to $42,141, indicating a decline of 3.8% over the past 24 hours. Ethereum has also bounced back to $2,239, down 4.7% from yesterday. The other mentioned altcoins have also rebounded to a corrected level.
