According to Gate market data, BTC/USDT is currently trading at $59,968.9, a 6.12% drop in 24 hours, pushing the price below the $60,000 level. As the world's largest cryptocurrency by market cap, Bitcoin's sharp daily swings tend to reflect overall crypto market sentiment. This decline occurred without any major negative headlines, but short-term selling pressure has increased. Over the past day, the total crypto market capitalization shrank accordingly, with most leading altcoins experiencing downside moves alongside Bitcoin. As of this flash update, BTC is consolidating between $59,000 and $60,000, with bulls and bears contesting the psychologically important round number.
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