Major cryptocurrencies took a tumble on Tuesday evening after the price of BTCcorrected by 7% following a rally to a new all-time high of $69,324 at the Coinbase exchange. What Happened: Bitcoin plummeted by $5,000 on March 5, triggering widespread volatility in the market. This reaction came on the heels of Bitcoin reaching a historic all-time high, a moment that bullish investors had been anticipating since November 2021. The rise in Bitcoin’s value was largely catalyzed by the approval of Bitcoin ETFs in January, propelling it beyond the previous November 2021 peak. Data from CoinGlass reve…
