According to data from 21milyon.com, the price of BTC has fallen more than 5% in the last seven days, pushing its price below $63,000. In fact, BTC saw a 2% decrease in just the last 24 hours. At the time of writing, it was trading at $62,369.67 with a market value of over $1.22 trillion.
However, the decline is not limited to BTC alone. Ethereum (ETH) and many other altcoins also witnessed price corrections. The general decline in altcoin market value enabled Bitcoin’s dominance to rise again after a sharp drop on April 28. At the time of writing, Bitcoin’s dominance was 50.9%. The selling pressure on BTC decreased in the last few hours as exchange reserves diminished.
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