Bitcoin Plummets to $25K as Altcoins See Even Deeper Losses Bitcoin’s nosedive continued over the past 24 hours with a flash crash on several exchanges that pushed it down to $25,300, a new two-month low. However, many altcoins dropped even more precipitously than BTC. Aside from XRP, some of the biggest losers were LTC, BCH, and XLM.
Bitcoin Takes a Hard Hit Just on Monday, Bitcoin had spiked up to $29,700, reaching a multi-day high. More positive news followed Tuesday with the listing of Europe’s first spot Bitcoin ETF on Euronext Amsterdam. However, Bitcoin ETFs often lead to sell-offs, and instead of climbing higher, Bitcoin started rapidly losing ground. By Thursday, it had already fallen below $29,000.
Over the past 24 hours, things got even worse with Bitcoin plummeting to $25,300 on exchanges like Coinbase, marking a new two-month low. Despite bouncing back over $1,000 since then, Bitcoin remains down over 7% on the day. Its market cap, once above $570 billion, is now struggling below $515 billion. Its dominance over altcoins has also declined to 48.4%.
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