Bitcoin Plummets Below $60K: Market Volatility Surges Amid Altcoin Downturn

May 12, 2024
Bitcoin Plummets Below $60K: Market Volatility Surges Amid Altcoin Downturn
  • The cryptocurrency market saw a notable decline on May 10, with Bitcoin falling below the $60,000 mark.

  • This drop led to a 17.5% loss in intraday trading volume, which amounted to $13.9 billion.

  • Increased sales by short-term Bitcoin holders contributed to heightened market volatility.

  • Despite the downturn, the Mega Dice presale attracted $913,229, indicating continued interest in crypto-based iGaming platforms.

  • The exchange rate for Bitcoin to Pakistani Rupee stood at Rs 16858172.60 on May 11, 2024.

  • Investors are cautioned to observe Bitcoin's ability to either hold above $60,975 or face further decline due to bearish trends.

  • It is advised to seek professional financial consultation before engaging in any cryptocurrency transactions.

Summary based on 27 sources


Get a daily email with more Crypto stories

More Stories