Bitcoin (BTC) Price Continues to Fall! Lowest Level Since October 2024! Here Are the Details

It was under $71,000 on Wednesday night, a deepening the selling pressure of Bitcoin amid growing risk exposure in global markets as it reached its lowest level since October 2024 when it hit an all-time low.

The largest cryptocurrency in the world went 7. Two per cent in the last 24 hours to $70,672. Also, Ethereum fell 7. In the same period, 8% of s fell to $2,091 at that time.

Kronos Research’s chief executive Vincent Liu said ‘Bitcoin lost key support levels after a poor attempt at regaining strength, and it was slowing down faster than any other company. A long position liquidations, contagion from the sharp sell-off in US stock markets through technology stocks and continued ETF outflows put pressure on crypto market downwardly. , ” and.

Crypto-related stocks were also affected by the sell-off, as was the case with . Shares of Coinbase closed down 6 with the stock. Ethereum treasury company Bitmine lost 9 percent, while 14% was . 17% of its value is . The Nasdaq Composite Index was 0 (in the US) for . Dow Jones Industrial Average rose 0, while 51% of the was up for 51 per cent. A third, 53 per cent, are s.

This is more macroeconomic conditions putting pressure on risky assets than a crypto-specific shock, analysts say, that has led to the current pullback.

According to Presto Research Director Peter Chung, “This is a price movement in crypto that’s similar to the overall risk exposure in the markets,” said Preto research Director. Bitcoin was hit by pressure last night to go down the year’s lowest level of its value, while investor psychology dipped at its low point since last bear market. ” , ‘I’m sure it is worth reading.

A “extreme fear” zone is also noted, with a 12-year Crypto Fear & Greed Index still at 12. Liu added that investors are “particularly interested in whether the $70,000 level can be maintained,” and it could be a first sign selling pressure is weakening with an increase in liquidations, re-emotional recovery — and balancing of ETF flows.

*This is not investment advice.

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