Categories: MarketsMenafn

Bitcoin Tumbles to $64000, Altcoins Slide

The crypto market has shown mixed price actions, with most cryptocurrencies – including Bitcoin – bleeding red as their prices fell significantly on Thursday.

A notable decrease followed this adverse price action in the global cryptocurrency market capitalization, which dropped by 3.60% to $2.33 trillion over the past day, fuelling bearish sentiments across the broad market.

Nonetheless, the overall market volume saw a notable increase of 23.59% to $89.45 billion, suggesting an increase in selling pressures due to panics from the recent global equity sell-offs and broader economic factors.

Bitcoin and Crypto Market Tumbles Following Tech Rout

Today’s negative trend witnessed across the crypto market follows the recent crash in tech stocks, which sent shivers among retail and institutional investors worldwide.

The tech stock rout, led by the S&P 500 and Nasdaq Composite, which recorded significant lows not experienced in two years, has seen investors liquidate large shares of their portfolios and switch to less-risky investment options. Notably, this has primarily affected the performance of cryptocurrencies today.

Bitcoin responded to this global negative trajectory with a price dump of 2.64% to $64,641. Unfortunately, this move has not only affected the price of Bitcoin but also triggered panics among traders and led to more profound losses for altcoins, as many traders opted to sell off their crypto assets to hedge against the impending market turbulence.

According to data from CoinMarketCap, BNB, SOL, and XRP have had their share of the ridiculous market plunge as the assets plunged by 3.48%, 4.78%, and 0.55% to $564, $170, and $0.6185, respectively.

Ethereum Falls 8%

In contrast to several expectations and the spot Bitcoin ETFs momentum at launch, Ethereum has continued to record deep shortages since the approval of spot ETH ETFs by the SEC on July 23rd. 

While BlackRock Ethereum ETF had led the first inflow with about $266 million, it was unable to offset the outflows recorded by other asset managers. This triggered the Ethereum sell-offs. As of writing time, Ethereum had plunged by 8.17% to $3141 over the last day.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

Mubite Officially Launches as a Global Leader in Crypto Prop Trading

Prague, Czech Republic, October 6, 2025, ZEX PR WIRE— The future of funded crypto trading…

2 days ago

CZ Effect: Binance Lists Aster (ASTER) With Seed Tag After Weeks Of Hype

Aster’s native token, ASTER, has ridden a powerful endorsement cycle after Changpeng “CZ” Zhao publicly…

2 days ago

Verto Establishes DIFC Hub to Enable Faster, Smarter B2B Payments Across Africa and Emerging Markets

UAE now has a payment partner that unlocks Africa’s growing economic opportunity DUBAI, UAE, 6…

2 days ago

Guinness World Records Attempt in Forex Industry is announced

Dubai, UAE, 5th October, 2025, ZEX PR WIRE, Forex Expo Dubai, the Middle East’s largest…

2 days ago

Reliable Airport Taxi Service: Guaranteed Pickups, No Delays

London, England, 5th October 2025, ZEX PR WIRE, In today’s travel landscape, reliability has become…

3 days ago

Forex Expo Dubai 2025 Conference to Feature 150+ Global FX and Fintech Leaders

Part of the region’s largest forex and fintech gathering, the two-day conference on 6–7 October…

5 days ago