Summary
Bitcoin hit a new all-time high of $69,170 before plunging 12% to just above $60,000 in five hours. This post-peak dip is not unexpected, as volatility is common during bull markets. Analysts say significant price corrections on the ascent are normal, and some consolidation would be healthy after recent gains.
Key Points
1. Bitcoin plunged after reaching a new all-time high of $69,170, dropping 12% to just above $60,000 in five hours.
2. Analysts suggest that the recent volatility in Bitcoin’s price is expected, citing previous instances of significant corrections during bull markets.
3. Market expert Alex Thorn highlights the historical volatility of Bitcoin, pointing out past corrections of 12% or more during previous price cycles, indicating that some consolidation after significant gains is healthy.