Bitcoin price fell to its lowest level in five weeks, falling below $64,000. 📉 Alternative cryptocurrencies are also suffering quite heavily today, led by the massive price drop in Avalanche.

After a failed attempt to surpass $70,000 last week, Bitcoin headed straight south, falling to a monthly low of $64,000 on Friday. However, the weekend was much less volatile as expected, with the cryptocurrency remaining just above $65,000.

Monday started with a more impressive price increase above $66,500, but the bears emerged and started another decline. This time, BTC fell for several days in a row, culminating in a drop to $63,400 yesterday.

This was the lowest price level since May 15. However, Bitcoin has recovered somewhat since this multi-week low and is now above $64,000.

However, its market cap fell below $1.270 trillion and its dominance over alternative cryptocurrencies on CoinGecko remained steady at 51.5%.

On the other hand, AVAX had the biggest daily decline, dropping more than 9%. As a result, the asset is now struggling to stay above $25.

The total cryptocurrency market cap dropped nearly $20 billion overnight and is now $2.460 trillion in CG. 📊