In recent days, the cryptocurrency market has witnessed strong volatility in the price of Bitcoin, which fell and traded at around $59,650 on Binance. This drop represents a devaluation of almost 4% in the last 24 hours, highlighting a challenging period for the digital currency. At the time of publication, the price of BTC was quoted at US$60,700 with a drop of 2% in the last 24 hours.

Over the course of the last week, the value of Bitcoin has decreased by 12%, further distancing itself from its historic peak of almost US$74,000 reached in March, which represents a 17% reduction in relation to that milestone.

Likewise, most major altcoins have begun a steady decline. ETH broke the $3,000 support and fell to $2,915. XRP is down over 3% and is trading near the $0.48 support. ADA may advance towards the $0.42 support zone. Solana is trading at $130.30 up 2%.