The world's top cryptocurrency Bitcoin (CRYPTO: BTC) is seeing a major price drop today, with most of the cryptocurrency market following suit.
What Happened: Market data shows that Bitcoin's price fell from its 24-hour high of just under $36,000 down to about $33,900 for a price drop of nearly 5.8%. The drop brings BTC closer to its low of the year, which was marked on Jan. 24 at $33,184.06. Some analysts predict that the apex crypto is now heading to test the $29,000 level.
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The top altcoins — a term indicating cryptocurrencies that are not Bitcoin or a stablecoin — followed and also saw major losses over the last 24 hours.
See Also: How To Earn Free Crypto
Top altcoin Ethereum (CRYPTO: ETH) saw its price fall from nearly $2,700 down to just over $2,500 for a price fall of over 7%. BNB (CRYPTO: BNB) — the coin powering the popular smart contract-enabled blockchain launched by the world's top exchange Binance — dropped from its 24-hour high of $378 down to $351, shedding about 7.15% of its value.
XRP (CRYPTO: XRP) — the bank-friendly asset meant to power settlement created by Ripple — lost over 5.1% when its price dropped from $0.595 down to $0.5646. Ethereum-killer Solana (CRYPTO: SOL), lost over 8.8% by going from $81.8 per coin to just $74.57.