Here’s Why The Bitcoin Price Crashed Below $66,000, Taking Shiba Inu And Dogecoin With It

Name	Symbol	Market	Market Cap ($)	Algorithm
Solana	SOLUSD	Crypto	79,267,409,693	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Solana

SOLUSD

Crypto

79,267,409,693

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-4.93	-2.67%	179.63	179.63	179.64

Price Change

Price Change %

Current Price

Bid Price

Offer

-4.93

-2.67%

179.63

179.64

High Price	Low Price	Open Price	Prev. Close	52 Week Range
184.99	176.75	184.26	184.56	17.34 - 210.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

184.99

176.75

184.26

184.56

17.34 - 210.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	17:31:03	0.022936	179.63	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

17:31:03

0.022936

179.63

USD

Price x Volume	Volume	Base Symbol	Related Pairs
95,058,167.30	526,947.01	SOL	SOLEUR	SOLGBP	SOLBTC

Price x Volume

Volume

Base Symbol

Related Pairs

95,058,167.30

526,947.01

Here’s Why The Bitcoin Price Crashed Below $66,000, Taking Shiba Inu And Dogecoin With It

22/07/2024 1:30pm

NEWSBTC

On Sunday, the Bitcoin price saw a sudden crash that sent the likes of Dogecoin and Shiba Inu spiraling alongside it. This crash saw $2,000 wiped off the Bitcoin price in mere minutes, bringing it back down below $66,000. While this decline did not last at the time, there were a few factors behind it, which inflicted worry in crypto investors across the space. Why Did The Bitcoin Price Fall? The Bitcoin price crash below $66,000 had one major factor behind it and that was the US President Joe Biden. For months now, the war between President Joe Biden and former US President Donald Trump had raged on, with the two being the leading candidates for the position. Related Reading: CBOE Global Markets Lists Spot Ethereum ETFs, Confirms Launch Date However, on Sunday, President Joe Biden made a shocking revelation, announcing that he was officially stepping down from the presidential race. In the announcement on X (formerly Twitter), which has so far garnered over 330 million views, Biden said that he was going to prioritize his duties as a president for the remainder of his current 4-year term, rejecting the Democratic Party nomination. In the same announcement, President Biden offered his support to Vice President Kamala Harris, to take on the presidential ticket for the Democratic Party. He also urged the party supporters to come together and beat Donald Trump, who is the strongest opponent so far. pic.twitter.com/RMIRvlSOYw — Joe Biden (@JoeBiden) July 21, 2024 Following the announcement, the crypto market responded quickly, with the Bitcoin price plunging sharply. At the same time, coins like Dogecoin and Shiba Inu followed suit, dropping around 3% each in response to the announcement. Dogecoin, Shiba Inu Refuse To Stay Down Just like the plunge in price, the Bitcoin recovery was just as swift, rising to new monthly highs. The price eventually crossed $68,000 on Sunday, taking the crypto market with it. In response, Dogecoin and Shiba Inu followed, notching notable gains from their lows. For Dogecoin, the price rose back above $0.14 after falling below $0.128. This saw its overall daily gains at the time shoot up above 4%, with its daily trading volume also seeing a significant climb above $20 billion in one day. Related Reading: Solana Leads Crypto Rally As Expectations For A Break Above $200 Grow In the same vein, the Shiba Inu price also rose from its lows of $0.0000173 to rise above $0.0000184. However, unlike Dogecoin, the Shiba Inu daily trading volume remains muted, with around $383 million at the time. As for the Bitcoin price, it continues to lead market bullishness, still holding the $67,000 support following the recovery. This translates to an approximately 12% increase in the crypto’s price in the last seven days. Featured image created with Dall.E, chart from Tradingview.com

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SOLUSD Solana