The crypto market capitalization sees decline by $100 billion in a day as bitcoin goes down to its weekly low.
Furthermore, The bears continues pushing bitcoin south in the past 24 hours. Notably, this is as the asset drops to a weekly low of just over $62,000.
More so, almost all altcoins are also seeing red candles, especially Litecoin losing the most value in a day.
Notably, this dip is coming just few days after the top cryptocurrency hits through its previous ATH two times in a row. Also, it’s last latest peak is at $69,000.
More so, this is also coming as all hopes is ready for $70,000. So, Bitcoin and the entire crypto market Instead of going upwards, heads straight south.
Consequentially, in just free hours, BTC loses over $6,000 of value to an intraday bottom of $63,000.
However, It bounces off initially and goes above $65,000 but this price increase is short as the bears take over.
Lastly, this means the cryptocurrency falling o $62,300 (on Bitstamp), representing the lowest price point since November 7th.
Currently, bitcoin is seeing recoveries of over $1,000 with its market capitalization reclaiming $1.2 trillion.
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