Bitcoin hit a low since February 24
The cost of the first cryptocurrency fell to $35.5 thousand. Over the past day, it has decreased by 8%.
On the evening of May 5, the bitcoin rate updated the minimum since February 24 at around $35.5 thousand. Then the price of the cryptocurrency won back part of the losses. As of May 6, 9:30 Moscow time, the asset is trading at $36.4 thousand, over the past day it has fallen in price by 8%.
The capitalization of bitcoin has fallen below $700 billion. Currently, the total value of the first cryptocurrency is $694 billion with daily trading volumes of $37.5 billion and a market share of 39.3%, according to CoinGecko.
Following bitcoin, the largest altcoins also fell in price. The price of Ethereum fell by 6.3% to $2.7 thousand, and the rate of Binance Coin fell by 5.5% to $379. The overall market valuation fell 7% to $1.8 trillion.
Also yesterday there was a major decline in the US stock market. The NASDAQ Composite lost 4.99% (the biggest intraday drop since June 2020), and the S&P 500 lost 3.56%.
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