The cryptocurrency market is currently facing a slight downturn, with the overall market cap shifting towards a bearish trend.
In the midst of this, Coinbase has taken a proactive step by filing a Freedom of Information Act request with U.S. regulators, highlighting the ongoing developments in crypto regulation. Bitcoin, the leading crypto, has experienced a small price decline, dropping about 2.15% in the last 24 hours to around $66,000.
Despite this dip, other cryptocurrencies like Ethereum and Solana have shown some resilience, managing to post modest gains. Earlier in the day, Bitcoin was trading at around $68,387 but faced downward pressure, hitting an intraday low of $66,581 before slightly recovering. As of now, Bitcoin is trading at around $66,839, according to CoinMarketCap data.
Just two days ago, Bitcoin reached an impressive 84-day high of $69,519 but struggled to maintain that momentum, falling back to the $68,000 support level before dipping further. Interestingly, even with the price drop, Bitcoin’s daily trading volume has surged by over 47%, indicating continued interest from investors.
Looking ahead, analysts remain hopeful about Bitcoin’s potential to bounce back. The recent price dip has not disrupted its overall upward trend, suggesting that this may be a temporary setback. If Bitcoin can navigate through the current bearish phase, it may very well resume its upward trajectory.
