Bitcoin (BTC) Plunges to $67K as Ethereum (ETH) Approaches Key Support

Bitcoin Drops to $67,000, Triggering Liquidations

The leading cryptocurrency, Bitcoin, has experienced a decline today, reaching an intraday low of $67,962 according to CoinGecko. At press time, it is trading 2.7% lower over the past 24 hours.

Despite a surge of 11% during "Uptober," Bitcoin has faced a rough start to November. As a result of its price drop, over $200 million worth of long positions have been liquidated in the last 24 hours, as per CoinGlass data.

Analyst Dave the Wave noted the lack of excitement in the cryptocurrency market despite Bitcoin's recent proximity to a new record high.

Despite the recent weakness, trader HornHairs maintains a bullish outlook for Bitcoin across various time frames. "I am bullish as long as we stay above the previous consolidation and do not close below $65k," he stated.

Altcoins Follow Suit

Due to the interconnected nature of the cryptocurrency market, altcoins have also experienced declines. Ethereum (ETH), the largest alternative cryptocurrency, recently dipped below critical support at $2,450 and is currently down 1.8%. Other major altcoins, including BNB and Solana (SOL), are also in the red. Dogecoin (DOGE) has recorded the most significant drop at 5.1%.