After several days of impressive gains exceeding $70,000, the price of Bitcoin has fallen over the past 12 hours or so to below $68,000.
Most altcoins are also slightly in the red, with ARB, BCH, and PEPE among the notable losers.
BTC loses $3,000
The underlying cryptocurrency was extremely volatile last week amid news that the US Securities and Exchange Commission may approve Ethereum ETFs by the end of that week. This prompted several rallies that peaked on Tuesday with a rise to nearly $72,000 for the first time since early April.
However, the hype began to die down in the following days and Bitcoin fell to $66,400 on Thursday – just hours before the US regulator approved eight Ethereum spot ETFs. The bulls finally rallied at this point and triggered another wave that helped Bitcoin regain some ground and nearly $70,000 over the weekend.
After another short bounce, the asset started to attack again yesterday and rose to a multi-day peak at $70,500. As the bulls prepared to push towards an all-time high, the landscape changed again, perhaps due to the latest developments around Mount Jukes.
Within hours, the cryptocurrency lost about three thousand and fell to $67,500. BTC is trading above that local low now, but its market cap has fallen to $1.330 trillion. Its dominance over alts remains well below 50%.
LINK challenges market sentiment
Most large-cap stocks also turned red today. Ethereum is leading this negative trend with a decline of about 2% pushing it from yesterday's peak at around $3,950 with a decline of $100. Binance Coin, XRP, DOGE, TON, ADA, AVAX, TRX, and DOT also suffered minor losses.
Bitcoin Cash has dethroned the top 20 altcoins, losing 4.5% of its value in a single day. ARB fell 5.5%, followed by PEPE falling 4.4% after the memecoin's latest ATH chart yesterday.
In contrast, Chainlink stands. The asset jumped about 6% in one day and is trading above $18 now.
The total cryptocurrency market capitalization lost about $30 billion overnight and fell to $2.680 trillion on CG.
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Cryptocurrency charts By TradingView.
