Bitcoin dives below $65,000 again after 10 days

By Ovunc Kutlu

ISTANBUL (AA) - Bitcoin on Tuesday dove above the $65,000 level once again after 10 days of gains.

The price of Bitcoin was trading just above that level at 1400GMT for a daily loss of 6.6%, according to data from CoinMarketCap, a digital asset price-tracking website.

The world's biggest cryptocurrency saw its price diving to $60,844 on March 20, erasing all its gains during the month of March.

The selloff in the cryptocurrency market was viewed as a correction by most analysts after Bitcoin saw its price climbing to a record-high of $73,666 on March 14.

Ethereum, the world's biggest altcoin by market cap, was down 8% to $3,271 at 1401GMT. Some altcoins saw their daily prices fall more than 14%.

The value of the cryptocurrency market was down 6.9% to $2.46 trillion while Bitcoin's share of the crypto market, known as dominance, was at 52.2% and Ethereum's dominance was at 16%.

Bitcoin has been on a rally since Jan. 11, when the US Securities and Exchange Commission approved spot Bitcoin ETFs or exchange-traded funds. The move allowed investors, especially financial institutions, to trade Bitcoin without owning it.