Ethereum

Cardano

Solana

Bitcoin

Source: DALL·E 
<a href="https://cryptonews.com/news/bitcoin-etf-in-q1-and-bitcoin-price-all-time-high-in-q4-vaneck-predictions-2024.htm">Bitcoin</a> price briefly dropped below $41,000 earlier today, undoing almost a week’s gains before a bounce back. Other major <a href="https://cryptonews.com/news/best-crypto-to-buy-now-december-8-cardano-bonk-pyth-network.htm">cryptocurrencies</a> including Ethereum, XRP, Solana (SOL), and Cardano (ADA) were also down over 5%. 
According to <a href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BITSTAMP">TradingView</a>, the price of Bitcoin made a sharp dip of 6% from $43,233 and declined to a lowest point of $40,659 at 2:13am on Dec. 11 (UTC). This sharp downturn quickly erased the gains Bitcoin had made over the past bullish week. Source: TradingView 
<h2 id="bitcoin-price-and-a-broader-market-correction">Bitcoin Price and a Broader Market Correction</h2> 
 <a href="https://cryptonews.com/news/solana-nfts-eclipse-ethereum-in-trading-volume-amid-surge.htm">Ethereum</a> fell from a previous $2,330 to as low as $2,145, marking a 7.9% dip in the same time frame. Source: TradingView 
In the meantime, major altcoins have also seen fluctuations as a broader market correction, including XRP, Solana, Cardano, and Polkadot, all with a plunge marking a loss of over 5% at some point, following the same pattern of Bitcoin and Ethereum. 
At the time of writing, Bitcoin recovered to $42,141 according to TradingView, still indicating a decline of 3.8% over the past 24 hours. Ethereum bounced back to $2,239, down 4.7% from yesterday. Other altcoins mentioned have rebounded to a corrected level, too. 
Over the past week, Bitcoin has breached the $42,000 landmark, remained above $43,000 and been constantly hitting $44,000. In addition, Bitcoin has seen an impressive rally, <a href="https://cryptonews.com/news/bitcoin-price-prediction-btc-surges-outshining-gold-in-2023-rally.htm">soaring by 166%</a> in 2023, significantly surpassing gold’s annual gain of 9%. 
Pending the U.S. Securities and Exchange Committee’s decision of the first spot <a href="https://cryptonews.com/news/bitcoin-etf-in-q1-and-bitcoin-price-all-time-high-in-q4-vaneck-predictions-2024.htm">Bitcoin exchange-traded fund</a> (ETF), the industry has been optimistic with more established financial institutions joining the game. According to a <a href="https://cryptonews.com/news/bloomberg-predicts-crypto-supercycle-bitcoin-price-rally-to-500k.htm">Bloomberg report</a>, the upcoming “supercycle” of crypto could push the price of Bitcoin to potentially exceed $500,000 in the future. 
<h2 id="global-acceptance-of-bitcoin">Global Acceptance of Bitcoin</h2> 
 The global acceptance of Bitcoin develops, too. Partnered with Bitcoin Suisse, an infrastructure provider for crypto trading, staking, and custody, the Swiss city Lugano <a href="https://cryptonews.com/news/lugano-switzerland-now-accepts-bitcoin-usdt-for-tax-payments.htm">announced</a> that it is ready to start accepting tax payments in Bitcoin and <a href="https://cryptonews.com/news/more-major-south-korean-exchanges-begin-listing-usdt.htm">Tether (USDT)</a>. 
Meanwhile, El Salvador <a href="https://cryptonews.com/news/el-salvador-partners-tether-to-launch-freedom-visa-on-bitcoin-and-usdt-investment.htm">announced</a> a citizenship-by-investment plan powered by Tether to allow people to acquire citizenship through Bitcoin and USDT investments.

Bitcoin Price Briefly Drops Below $41,000 Amid Broader Market Correction

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