Severe Altcoins Crash Coincides with Bitcoin’s Drop Below $60,000

Bitcoin took a surprising dive! The price of this cryptocurrency giant plunged below $60,000, hitting the lowest point in the past three weeks. What caused this market earthquake? Shocking statistics of rising unemployment in the United States!

But this is just the beginning. Altcoins fell like autumn leaves. Ethereum and BNB each dropped 3%, reaching $2,890 and $523, respectively.

Solana, Dogecoin, and Bitcoin Cash performed even worse, losing between 6% to 7% of their value. Near led the declines with an 8% drop. Avalanche and Shiba Inu also retreated by 5%.

This devastating storm wiped out $70 billion from the total cryptocurrency market value, bringing it down to $2.23 trillion.

Amidst this chaos, Bitcoin showed its strength. Its market dominance increased to 53.2%, indicating that altcoins have performed weaker.

Is this the end or a buying opportunity? The cryptocurrency market continues to hold its breath.