Sure Blog

Latest Events in the Crypto Industry

Bitcoin price dip below $40K costs Tesla nearly 100% of its BTC profits

Bitcoin (BTC) fell below $40,000 on Wednesday as bearish sentiment continued to dictate price direction resulting in the cryptocurrency market losing $350 billion in value.

Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it put in lows of $38,500 before bouncing higher.

Coming after a week of successive drops, Wednesday’s dip put Bitcoin at its lowest level since early February and 40% below its all-time highs.

“Bitcoin putting in new lows, probably buy more soon,” popular trader Scott Melker told Twitter followers in a post that characterized the conversely calm mood among market veterans.

As Cointelegraph reported, those closer to the data were anything but bearish throughout the week, and even a sub-$40,000 BTC price failed to dampen their spirits.