{"id":27925,"date":"2024-03-20T12:53:54","date_gmt":"2024-03-20T12:53:54","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-dips-below-62000-in-major-one-day-loss\/"},"modified":"2024-03-20T12:53:54","modified_gmt":"2024-03-20T12:53:54","slug":"bitcoin-dips-below-62000-in-major-one-day-loss","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-dips-below-62000-in-major-one-day-loss\/","title":{"rendered":"Bitcoin Dips Below $62,000 in Major One-Day Loss"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>On Tuesday, Bitcoin experienced its most substantial one-day downturn since the <a href=\"https:\/\/igaming.org\/crypto\/the-seven-days-that-rocked-the-crypto-world\/\">downfall of FTX<\/a> in November 2022, with its value plummeting over 8% in a single day. This decline was mirrored by a significant reduction in investor interest in U.S.-listed spot Bitcoin ETFs, suggesting a possible connection between the two events.<\/p>\n<p>The price of <a href=\"https:\/\/igaming.org\/cryptocurrencies\/section\/what-is-a-bitcoin\/\">Bitcoin<\/a>, the most valued cryptocurrency on the market, dipped below $62,000 according to CoinMarketCap, marking its steepest drop within a 24-hour frame since the FTX crisis on November 9, 2022, when it nosedived more than 14% due to the bankruptcy of Sam Bankman Fried\u2019s FTX, then the third-largest exchange.<\/p>\n<p>Among the speculated causes for this downturn are excessive leverage within the market, the downward pressure from Ethereum (ETH), and notably negative inflows into Bitcoin ETFs.<\/p>\n<p>This recent decrease sees Bitcoin retracting 15% from its peak above $73,500 observed just the previous week.<\/p>\n<p>Contributing to Bitcoin\u2019s precipitous fall could be the withdrawal of funds from spot ETFs linked to the cryptocurrency. Records indicate that Tuesday saw an unprecedented exodus of $326 million from these funds, the largest ever recorded. Moreover, Grayscale\u2019s ETF experienced a significant withdrawal of $643 million on Monday.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong><strong>250% Extra + $125 Free Chip!<\/strong><\/strong> <\/p>\n<p>New players only. 250% on 1st Deposit + $125 Free Chip<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>At time of writing, Bitcoin is trading at $63,124 as per <a href=\"https:\/\/igaming.org\/cryptocurrencies\/coinmarketcap\/\">CoinMarketCap<\/a>.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/bitcoin-dips-below-62000-in-major-one-day-loss\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) On Tuesday, Bitcoin experienced its most substantial one-day downturn since the downfall of FTX in November 2022, with its value plummeting over 8% in a single day. This decline was mirrored by a significant reduction in investor interest in U.S.-listed spot Bitcoin ETFs, suggesting a possible [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":27926,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/27925"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=27925"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/27925\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/27926"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=27925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=27925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=27925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}