The cryptocurrency market has seen a period of decline, characterized by substantial decreases in the price of Bitcoin.
The market has experienced significant turbulence, with altcoins exhibiting high levels of volatility and transitioning into a negative trend. Bitcoin (BTC) initiated a decline on August 30th, as prices had difficulties in maintaining the $60,000 level.
On September 1, it was trading at levels around $58,000 and experienced an additional decrease of 1.34% in price throughout the past 24 hours. Bitcoin’s price reached a weekly low of $57,234 on September 2.
Bitcoin has experienced a 9% decrease in values during the previous week. As of August 30, the US spot Bitcoin ETFs have experienced significant withdrawals in investor activity, with daily net outflows amounting to $175.67 million.
The decline in Bitcoin’s price has had an impact on market sentiment, resulting in price declines for alternative crypto such as Ethereum (ETH) and Solana (SOL). Within the past 24 hours, the total market cap of crypto has experienced a decrease of 1.9%.
