Bitcoin Plunges Below $63,000 Amid Steep Correction

Bitcoin's price has plummeted by 40.5% over the past year, falling below $63,000.

The world's largest cryptocurrency traded at $62,860.64 on June 23, marking a significant decline from levels recorded in May and June of last year.

In the past seven days, Bitcoin experienced mixed trading sessions but ended the week lower overall, resulting in a weekly decline of 2.2%.

The monthly losses have exceeded 22%, with Bitcoin shedding $13,837.68 since May 24, and its annual decline has topped $42,000, with the cryptocurrency falling by approximately 40.5% over the past year.