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Bitcoin dominates the cryptocurrency landscape and is widely known among crypto investors. As the largest cryptocurrency in the world, it achieved a new all-time high of $73,750 on March 14, 2024. However, BTC has been undergoing corrections for some time now. As of August 5, 2024, it was trading at $50,112 with a market capitalization of $1.01 trillion, marking a 29.99% decline from its peak. Bitcoin has seen a 16.85% drop over the last 24 hours and 27.73% in the previous seven days. It was dropping in the blink of an eye. As of today, August 6, 2024, it has stabilized at around $55,444, up by 4.25% in the last 24 hours.