Bitcoin’s Price Drop Today: A Timeline

Bitcoin’s Price Drop Today: A Timeline

Bitcoin, the world’s largest cryptocurrency by market capitalization, experienced a significant drop in its value today. Here’s a timeline of the price movement:

1. Early Morning: Bitcoin’s price was around $45,000. However, it dropped more than 6% over the next 24 hours. The price fell to almost $40,000 in early morning trading before rebounding to above $42,000.
2. 2:15 AM UTC: Bitcoin’s price briefly fell below $41,000 following a sudden 6.5% drawdown.
3. 6:08 AM UTC: The price had risen to $46,741.53.
4. 11:30 AM ET: The price of Bitcoin hovered at about $41,711.
5. Current Time: As of writing, the Bitcoin price was down 1.01% to $42,659.78.

This drop in Bitcoin’s value is reportedly due to concerns that the U.S. Securities and Exchange Commission may not approve spot Bitcoin ETFs from major investment firms. These events serve as a reminder of the inherent volatility and risks associated with investing in cryptocurrencies. As always, investors are advised to exercise caution and conduct thorough research before making any investment decisions.