Most major assets in the cryptocurrency market have declined over the past 24 hours. The price of Bitcoin has fallen below $74,000, APA-Economics reports.
According to data from the CoinMarketCap platform, Bitcoin's price decreased by 0.97% over the past 24 hours to $73,769.23. Over the past seven days, the decline amounted to 3.76%.
Ethereum's price fell by 2.31% to $2,064.38, while BNB declined by 0.89% to $682.91. The sharpest decline was recorded in Zcash, whose price dropped by 10.93% to $1,026.18.
Among other cryptocurrencies, Monero's price decreased by 0.48% to $565.22, while Bitcoin Cash fell by 3.18% to $230.44. Bittensor declined by 0.48% to $220.41, while Quant lost 5.68% of its value, falling to $181.25.
Declines were also observed among gold-backed cryptocurrencies. PAX Gold (PAXG) fell by 1.38% to $4,038.10, while Tether Gold (XAUT) decreased by 1.41% to $4,034.89.
The CoinMarketCap 20 index declined by 1.66% over the past 24 hours to 147.48 points. Bitcoin's market capitalization stood at approximately $1.48 trillion.
Analysts say the ongoing decline in the cryptocurrency market may be linked to investors' cautious approach towards risky assets and continued strong selling pressure.
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