Bitcoin briefly slides to below $60K level for first time since early March

seekingalpha04-18

Bitcoin (BTC-USD) briefly retreated to below the $60K mark for the first time since early March in Wednesday afternoon trading, as volatility increased leading up to the highly anticipated halving ...

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The first-ever digital token slid as much as 5% to $59.8K, before paring the fall to $60.3K at 12:53 p.m. ET. Since hitting a record high of $73.8K in mid-March, bitcoin (BTC-USD) has dropped by nearly 20%. Ether (ETH-USD) -3.1%, as well as solana (SOL-USD) -2.2%, cardano (ADA-USD) -4% and dogecoin (DOGE-USD) -4.4% all saw selling pressure at the time of writing. The increased volatility comes ahead of the quadrennial halving event, due as soon as Friday. Many view it as a bullish catalyst for the price of bitcoin (BTC-USD) as the supply of new tokens gets reduced. SA analyst Florian Grummes had warned that \"immediately before and after the halving, however, Bitcoin tends to weaken for approximately 15 to 45 days.\" The weakness in crypto prices added downward pressure to some crypto-related stocks, including bitcoin (BTC-USD) miners Marathon Digital (MARA) -0.3% Riot Platforms (RIOT) -0.2%, HIVE Digital Technologies (HIVE) -2.8% and Bit Digital (BTBT) -2.8%, Michael Saylor's MicroStrategy (MSTR) -6.8%, and crypto exchange Coinbase Global (COIN) -4.7%.   More on Bitcoin USD  Penthouse To Prison: Sam Bankman-Fried Sentenced To 25 Years As Bitcoin Resurges Bitcoin: Potential Correction Despite ETFs And Halving Bitcoin: Flows And Tech Optimism Bitcoin falls 1.7% week over week amid heightened market volatility Spot bitcoin ETFs could make their way to Hong Kong in April - report","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2428326197"}