Bitcoin slipped below the $70,000 mark in 15 Mar 2024

Bitcoin slipped below the $70,000 mark. The cryptocurrency market plunged into the red on the morning of March 15 as profit-taking pressure surged, causing Bitcoin to lose over 6% and drop below the $70,000 threshold.

The surge in selling pressure on March 15 led Bitcoin - the largest cryptocurrency by market capitalization - to fall from around $73,400 to $68,000, losing over 6%. Among the top 10 cryptocurrencies by market capitalization, only Solana (SOL) managed to stay in the green, while the rest experienced declines of 5-7%.

Other altcoins saw even sharper declines, particularly those with medium market capitalization. The widespread drop ranged from 10-15% in just a few hours.

According to CoinMarketCap, the cryptocurrency market’s total market capitalization has decreased by nearly 6% in the past 24 hours, reaching $2.6 trillion. Bitcoin’s market capitalization retreated to nearly $1.3 trillion. – Crypto forum discussions about all aspects of cryptocurrency bitforum socialfi #InnovationSocialNetwork


The rise must eventually come to a fall; it’s the nature of every market. Profits are for selling a portion, and declines prompt consideration for buying more. The true beginning of the cryptocurrency uptrend could arrive after the 2024 Halving.

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I completely agree with your perspective on that matter.

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Observing past trends, we’ve seen a consistent pattern emerge before each halving event: a significant drop of 20% or more in the weeks leading up to it, followed by a strong bull run lasting approximately three months.

The support range for this Mar and Apr 2024 seems to be around 50-60k. :smile: