Bitcoin experienced a notable price adjustment, declining nearly 9% following its ascent to a record-setting pre-halving all-time high.
The leading digital currency, which captured significant attention for its surge to $69,324, subsequently corrected to roughly $64,580 within an hour — illustrating the market’s volatility.
Bitcoin price action has remained subdued under pressure, with the flagship crypto trading at $63,151 as of press time, giving up most of the gains accumulated since the start of the week.
New ATH before halving
The event marked a significant moment in Bitcoin’s history, as it set a new all-time high before an anticipated block subsidy halving for the first time. This occurrence diverges from the established pattern observed in previous cycles, where such highs were typically reached after the halving, hinting at a possible shift in market conditions.
However, the subsequent price correction resulted in the liquidation of more than $31 million in long position
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