The adverse price developments in the crypto market continued, with bitcoin dropping below $40,000. Most altcoins are deep in the red as well, with Terra losing 7% and BNB dropping to $380.
Bitcoin Lost $6K in 3 Days
The ongoing war between Russia and Ukraine harmed all financial markets upon its start, but bitcoin managed to recover all losses immediately when the West refused to get directly involved.
It kept climbing, reclaimed $40,000, and even soared to a three-week high at just over $45,000 on March 2nd. However, this is where the bears stepped up and didn’t allow the asset to go upwards.
The primary cryptocurrency started to lose value gradually, despite on-chain data revealing that retail and even whale investors have accumulated significant portions lately.
In the past 24 hours, bitcoin went from around $42,000 to just under $39,000 and still sits close to that line. This means that the cryptocurrency has lost more than $6,000 since its local peak three days ago.
Consequently, bitcoin’s market capitalization has declined beneath $750 billion after…
