Bitcoin's (CRYPTO:BTC) price fell sharply to $62,000, marking a significant drop from its recent highs as the total crypto market cap dipped below $2.4 trillion.
The downturn comes after a turbulent week where BTC struggled to maintain levels above $64,000 amid increasing outflows from ETFs.
Altcoins like SOL, SHIB, UNI, and BCH also saw substantial losses, with many dropping over 5% in the last 24 hours.
Despite a brief recovery, Bitcoin remains 2.3% down on the day and faces a 5% decrease compared to the previous week, reflecting heightened volatility and bearish sentiment across the cryptocurrency market.