Bitcoin momentarily tested below $ 66,000

Cryptocurrency market analysts note that on the night of October 26, the bitcoin rate BTC $95,148.91 Bitcoin -2.54% Market capitalization $1.88 trillion VOL. 24 hours $1.76 billion temporarily dropped below $ 66,000, which was part of a correction in the crypto market. At the time of writing, the price has recovered and is trading above $ 68,501, and the market capitalization of bitcoin is over $ 1.3 trillion, according to CoinGecko. In general, over the past day, the cryptocurrency has lost about 0.7% of its value.

Analysts believe that the main reason for the correction of the main crypto asset is the escalation of tensions in the Middle East due to Israel’s attack on Iran, which caused a negative reaction in the global cryptocurrency market. All major digital assets from the top 10 list moved into the «red zone,» with Solana SOL $179.46 Solana -1.79% Market capitalization $86.02 billion VOL. 24 hours $0.67 billion (-3.4%) and Dogecoin DOGE $0.13 Department Of Government Efficiency -3.54% Market capitalization $0.12 billion VOL. 24 hours $0.69 billion (-3.3%) recording the largest losses.

The total capitalization of the cryptocurrency market currently stands at $ 2.38 trillion, with bitcoin dominating at 59.4%. According to Coinglass, $ 391 million worth of positions were liquidated over the past day, of which $ 321 million were long positions.

This month, bitcoin has repeatedly tested important levels. on October 21, it approached $ 69,000, and a week ago it was trading below $ 60,000. Bernstein analysts predict bitcoin’s growth to $ 200,000 by the end of 2025, calling it a «conservative» estimate.