The global crypto market has experienced a downturn recently following a new all-time high reached by the leading cryptocurrency. CoinGecko data shows that the total crypto market cap has dropped by over $450 billion since March 13, currently standing at $2.44 trillion.

Bitcoin, which hit a new ATH of $73,750 with a market cap of $1.45 trillion on March 14, has seen a 16% decline and is now trading at $61,780. Santiment data indicates that Bitcoin’s Relative Strength Index (RSI) has decreased significantly, hovering around the 52 mark, suggesting lower price volatility.

Investors are looking at terms like “dip” and “buy the dip” for buying opportunities during this market downturn. The BTC exchange inflow has increased, indicating some investors may be seeking short-term profits if the price surges.

Traditional investors are concerned about Bitcoin’s drop below $70,000, marking the largest market-wide pullback since the beginning of the year. This recent price dip has raised questions among investors about the future of the cryptocurrency market.

Post Views: 6