The past 24 hours haven’t been so favorable to the cryptocurrency market, in general. The total capitalization is down below $2 trillion once again, as the bitcoin price dropped to a low of around $41,900 . The rest of the market is also in the red as Ethereum is currently trading below $3K.The past couple of days have been a complete roller coaster on the cryptocurrency market and particularly when it comes to bitcoin’s price.
The price marked a few consecutive red candles after that and tumbled below $43K before managing to find some sort of relief and recovered back towards $44,000. This was for not, however, as the bulls failed to sustain the momentum, resulting in today’s decline. Today, the price dipped below $42K, and even though it managed to recover a little bit since, BTC is down about 2% on the day at the time of this writing.All in all, it has been a very turbulent week with tremendous volatility on both the crypto and traditional markets which remain highly correlated. The S&P 500 closed yesterday’s trading session 1.9% in the red, while the Dow Jones Industrial Average is down 1.4%.