Bitcoin price slips below $59,000

Bitcoin’s price corrected to below $59,000, marking a 10% drop over 24 hours.

The chart below shows a sharp correction amid a spike in trading volumes. At the time of writing, Bitcoin was trading around $58,800.

The sharp drop in the price of digital gold has affected the broader market. Here is how the top ten by market capitalization look:

The total market capitalization stands at $2.72 trillion, Bitcoin’s market cap at $1.12 trillion, with a dominance index of 41.3% (data CoinGecko).

Earlier, SkyBridge Capital founder Anthony Stated, that Bitcoin would easily reach the $500,000 price level.

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