Bitcoin Dips Below $70K as XRP Faces the Most Significant Losses

Bitcoin has dropped beneath the crucial $70,000 mark, triggering a market-wide selloff, with XRP experiencing the steepest declines.

Bitcoin has fallen below the significant $70,000 support level, prompting a sweeping downturn across the cryptocurrency market that has wiped out more than $1 billion in trading positions. Data from CryptoSlate indicates that the largest cryptocurrency by market capitalization has reached lows reminiscent of the period following the November 2024 elections, causing the overall market to experience a downward trend.

In tandem with Bitcoin's decline, Ethereum witnessed a notable drop of 7%, settling around $2065. This substantial decrease reflects broader negative sentiment in the digital asset space.