The crypto market lost more than $150 billion in two days, and Bitcoin fell to the level of $62,000
The cryptocurrency market witnessed a sharp decline, with a loss exceeding $150 billion in just two days, after the price of Bitcoin (BTC) fell to the level of $60,500, which is the lowest level of the currency in nearly 3 weeks.
Alternative digital currencies also witnessed a greater decline, as the value of SOL, TON, and UNI decreased by more than 5% over the past day, while the price of Ethereum fell to less than $3,000.
The cryptocurrency Bitcoin started the week at strong levels, rising to $70,000 on Monday following former President Donald Trump's participation in the 2024 Bitcoin conference in Nashville.
However, these gains did not last long, as the currency was subjected to strong pressure, which led to its rapid decline by approximately four thousand dollars.
This decline is largely due to economic volatility in the United States, especially after the release of a weak jobs report on Friday that showed the unemployment rate rising to 4.3%, the highest level since October 2021.
Currently, Bitcoin's price has recovered some losses, approaching the $62,000 level, while the market capitalization has fallen below $1.220 trillion, while Bitcoin's dominance over altcoins has increased to about 53%.