Bitcoin has dropped for the fourth day. It lost $6,500 in the past 24 hours. It fell 11% from $60,182 to $53,600 on Friday. At 2 PM today, Bitcoin was down 8.1%. It hit its lowest level since February 2024. It was trading around $54,300.
At 5 PM, Bitcoin traded at $55,335. It was still down 4.28% since Thursday. Bitcoin has fallen 25% from its record high in March 2024. People were excited about US exchange-traded funds (ETFs) investing in Bitcoin. Now, they fear high interest rates and political issues.
In March, Bitcoin hit an all-time high of $73,798. This was due to strong demand for US ETFs linked to Bitcoin. But inflows have slowed. Bitcoin and other digital assets have dropped. US ETFs for Ethereum, the second-largest cryptocurrency, are pending approval. But interest might cool if the sell-off continues.
Coinglass data shows $800 million in bullish crypto positions liquidated in the past three days. This is one of the biggest liquidations since April 2024.
Meta Description: Bitcoin drops for the fourth day, losing $6,500 in 24 hours. It fell from $60,182 to $53,600. It hit the lowest level since February 2024.
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