Bitcoin’s recent nosedives continued in the past 24 hours, and the asset slipped to a 17-day low of around $42,000. Most altcoins are also deep in the red, with the most losses coming from Terra, Solana, Avalanche, Cardano, and Dogecoin from the larger-cap ones.
Bitcoin Tested $42K
It was just several days ago when bitcoin was fighting to reclaim $47,000 and spiked above that level twice within a 48-hour period. However, the bears came out from hiding and didn’t allow any further increases.
Both attempts were rejected rather rapidly, but the second one was met with a more violent correction. At first, BTC dumped to $45,000 before it went even further and slipped to $43,000, as reported yesterday.
It bounced off from that line and spiked to $44,000, but that turned out to be a fake breakout, and bitcoin went south once again. This culminated in a drop to just over $42,000 hours ago, which became BTC’s lowest price point since March 23.
As of now, the cryptocurrency stands a few hu
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