Bitcoin Falls Below $72,000 For The First Time This Week After Eight-Day Rally Ends

Glassnode data showed Bitcoin’s eight-day winning streak was the longest in over two years, last seen in October 2023.

Bitcoin (BTC) dropped below $72,000 for the first time this week on Wednesday morning after the apex cryptocurrency had logged eight straight days of gains.

According to Glassnode data, this was the first time in over two years that Bitcoin saw daily gains stretch for this long, with the last such streak occurring in October 2023. Bitcoin’s price slipped 2.3% in the last 24 hours to $71,990 from an intraday high of nearly $75,000. On Stocktwits, retail sentiment around the apex cryptocurrency remained in ‘bullish’ territory over the past day amid ‘normal’ levels of chatter. 

The overall cryptocurrency market dropped below the $2.6 trillion mark, down 2.8% in the last 24 hours. CoinGlass data showed nearly $300 million in leveraged trades were wiped out over the past day, with long positions worth $222 million accounting for the majority. 

Ethereum (ETH) led losses among the top 10 cryptocurrencies by market capitalization, followed by Solana (SOL) and Cardano (ADA). Ethereum’s price fell 4.4% in the last 24 hours to around $2,200, while Solana’s price dropped 4.2% to $90 and Cardano’s price slid 3.8% to around $0.275. 

Get updates to this developing story directly on Stocktwits.<

For updates and corrections, email newsroom[at]stocktwits[dot]com.<