The cost of the first cryptocurrency dropped to $ 60.2 thousand.Altcoins also fell sharply in price
The bitcoin rate fell by $ 6 thousand, to a ten-day low of $ 60.2 thousand. Over the past 24 hours, the first cryptocurrency lost 7.6% in price. The asset's market capitalization shrank to $ 1.15 trillion with daily trading volumes of $ 39.7 billion, according to CoinGecko.
Following bitcoin, the largest altcoins in terms of capitalization also fell in price. The Ethereum price per day decreased by 8%, to $ 4.3 thousand, the Binance Coin rate – by 7%, to $ 609. Of the top 100 cryptocurrencies by market valuation, Kadena (a 15% drop per day), Crypto.com Coin (12.7%) and THORChain (12.6%) were hit harder than others.
The value of bitcoin continues to decline after it set an all-time high of $ 69,000 on November 10. Since then, the first cryptocurrency has fallen in price by 12%.
On the morning of November 14, the largest Taproot update in four years was activated on the bitcoin network. It aims to improve the scalability, privacy, and efficiency of the Bitcoin network.