Bitcoin slipped below the crucial $60,000 mark on Wednesday, extending losses across the cryptocurrency market as investors continued reducing exposure to riskier assets. The world’s largest cryptocurrency dropped around 5% to trade near $59,400, marking one of its weakest performances in recent weeks.
The broader digital asset market also came under pressure, with the global cryptocurrency market capitalization falling 4% to $2.06 trillion over the past 24 hours. Despite the decline in prices, trading activity surged significantly, indicating heightened selling pressure and increased market volatility.
Bitcoin’s market capitalization declined to approximately $1.19 trillion, while its 24-hour trading volume jumped 17.4% to $35.5 billion, reflecting aggressive trading as investors reacted to changing market conditions.
