"Bitcoin experienced two sharp price drops on April 27, first shortly after it tapped an intraday high of $79,490 around midnight. After appearing to consolidate below $77,800, the top cryptocurrency briefly topped $78,000 before a sell-off saw it shed approximately $1,500 in under one hour to reach a session low of $76,567."
"With this price action, bitcoin's 24-hour losses mounted, reaching 1.7%, which helped drag down its market capitalization from around $1.56 trillion observed in the early morning session to $1.54 trillion at 12:45 p.m. EDT."
"The cryptocurrency's decline appeared little more aggressive than the action in European and U.S. equities, which remained largely range-bound and flat. This downtrend marked a notable decoupling from global risk assets."
On April 27, bitcoin dropped below $77,000 after reaching nearly $79,500, resulting in a 1.7% loss and a $20 billion market cap decline. The decline followed the fading optimism surrounding an Iranian peace proposal. Bitcoin experienced significant price fluctuations, including a drop to $76,567 after briefly consolidating above $77,800. The cryptocurrency's decline marked a decoupling from U.S. and European stocks, which remained flat. Bitcoin's market capitalization decreased from approximately $1.56 trillion to $1.54 trillion during this period.
Read at news.bitcoin.com
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