Bitcoin Plummets Below $60K: Market Volatility Surges Amid Altcoin Downturn
May 12, 2024The 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
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Sources
Yahoo Finance • May 11, 2024
Prediction: Bitcoin Will Reach $100,000 in 2025The Motley Fool • May 11, 2024
How Much Will 1 Bitcoin Be Worth in 2030?NewsBTC • May 12, 2024
Bitcoin On-Chain Activity Nearing Historic Lows – What This Means For BTC PriceCoinpedia Fintech News • May 11, 2024
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