The cryptocurrency market is witnessing a significant downturn, with Bitcoin (BTC) dropping below the crucial $40,000 threshold for the first time in nearly two months. Altcoins have been hit even harder, with substantial losses observed in coins like SOL, AVAX, DOGE, DOT, LINK, and others.<\/p>\n\n\n\n
Bitcoin’s Challenges Persist<\/strong><\/p>\n\n\n\n The launch of the first spot Bitcoin ETFs in the US occurred nearly two weeks ago, and it appears that the short-term impact of these approvals has been unfavorable for both Bitcoin and the overall crypto industry. After initially surging to over $49,000, Bitcoin’s price reversed course swiftly, falling below $42,000 the next day.<\/p>\n\n\n\n While it managed to recover some ground and stabilize around $43,000 for the following week, the recent weekend brought another decline, dropping Bitcoin to around $41,000. The negative momentum continued into the new business week, causing the asset to dip below $40,000.<\/p>\n\n\n\n At present, Bitcoin stands at a 7-week low, trading below $39,500, with its market capitalization shrinking to $773 billion. Its dominance over other cryptocurrencies has reached 50%, as many altcoins have also experienced significant losses.<\/p>\n\n\n\n Altcoins Face Substantial Losses<\/strong><\/p>\n\n\n\n The decline in the cryptocurrency market has not spared altcoins, and the situation has worsened over the past 24 hours. Ethereum, in particular, has witnessed a 5% drop, bringing its price below $2,300. Other major coins like Binance Coin, Ripple, and Toncoin have also suffered similar percentage losses.<\/p>\n\n\n\n Furthermore, significant losses have been recorded in Solana (-8%), Cardano (-6%), Avalanche (-10%), Dogecoin (-6%), Polkadot (-8%), and Chainlink (-8%).<\/p>\n\n\n\n Lower- and mid-cap altcoins are also struggling, with ASTR, OP, NEAR, SATS, and NEO experiencing double-digit declines.<\/p>\n\n\n\n In total, the cryptocurrency market capitalization has declined to $1.550 trillion on CoinMarketCap, representing a $60 billion drop in the past day and a $100 billion decrease since Sunday.<\/p>","protected":false},"excerpt":{"rendered":" The cryptocurrency market is witnessing a significant downturn, with Bitcoin (BTC) dropping below the crucial $40,000 threshold for the first time in nearly two months.<\/p>","protected":false},"author":1,"featured_media":4206,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[35,32],"class_list":["post-4205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitocin","tag-crypto"],"_links":{"self":[{"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/posts\/4205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/comments?post=4205"}],"version-history":[{"count":1,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/posts\/4205\/revisions"}],"predecessor-version":[{"id":4207,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/posts\/4205\/revisions\/4207"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/media\/4206"}],"wp:attachment":[{"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/media?parent=4205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/categories?post=4205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/tags?post=4205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}