Bitcoin Posts Sharp Decline After Reaching Historic Highs

2025-07-16 01:39:24

(MENAFN) After reaching historic highs on Monday, Bitcoin saw a sharp decline of 3.57% on Tuesday.

As of 1200 GMT, Bitcoin is trading at roughly $117,300, down from its Monday peak of over $123,000.

Data from CoinMarketCap indicates that the overall value of the global cryptocurrency market — including Bitcoin — contracted by about 3.38% in the last 24 hours, bringing the total market cap to approximately $3.67 trillion.

Despite the recent pullback, Bitcoin has surged nearly 25% since the beginning of the year, maintaining its position as the top cryptocurrency by market capitalization.

Ethereum, the second-largest digital asset by market cap, also faced a downturn, slipping 2.42% to reach $2,978.

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