The situation in the crypto market worsened in the past 24 hours as bitcoin dropped below $60,000 for the first time since late October.
Precisely a week ago – on November 10th – the primary cryptocurrency was riding high and reached a new record of $69,000.
Instead of challenging $70,000, the asset reversed its trajectory and dumped by several thousand dollars in hours.
As reported yesterday, bitcoin plummeted to just over $60,000, thus losing $6,000 in a day.
Moreover, BTC fell to $58,600 before recovering several hundred dollars.
A week ago, the second-largest crypto saw a record of its own at nearly $4,900, but it’s down by more than $700 since then.
Solana, Cardano, Polkadot, Shiba Inu, Terra, Litecoin, Chainlink, Ripple, and Dogecoin are also deep in the red.