Bitcoin Price Plunge Extends to 11% as it Breaks $60,000 Mark

Tuesday, 5 March 2024, 20:00

Bitcoin's price took a sharp downturn, dropping by 11% and breaking below the significant $60,000 level. The swift decline triggered stop losses and briefly touched $59,387 before rebounding to $61,000. The correlation between bitcoin and the Nasdaq is notable, potentially signaling further downside for the tech-heavy index and broader risk trades.
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Bitcoin Price Plunge Extends to 11% as it Breaks $60,000 Mark

Bitcoin's Price Volatility

The new money investing in bitcoin ETFs faces a harsh reality as the cryptocurrency experiences significant price swings.

Market Movement

  • The price drop quickly breached $60,000 support, touching a low of $59,387 before recovering to $61,000.
  • Bitcoin and Nasdaq have shown a strong correlation, both hitting record highs recently.

Volatility remains a key factor driving bitcoin's price movements and affecting broader market sentiment.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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