Bitcoin’s price recovery attempts from the business week have come to a halt as the asset slumped to $62,400 earlier before bouncing off to around $63,000 as of now.
The altcoins are in no better shape, with most of the market turning red today. The total crypto market cap is down by $150 billion in two days.
BTC Dumps to $63K
Bitcoin’s price actions before and after the fourth halving, which was completed last Friday, have been quite underwhelming. The asset recovered some ground after the Iran-Israel attacks and stood above $65,000 when the block rewards were reduced.
It even started climbing in the following days and challenged $67,000 on a few occasions. Yet, it didn’t see much success there amid the growing ETF outflows.
Just the opposite, BTC started to lose value rapidly in the past few days, which culminated in a substantial price decline to a multi-day low of $62,400 earlier today.
Despite recovering some ground, bitcoin still struggles to reclaim $63,000. Its market cap
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