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Bitcoin Drops Under $63K, Leads to Marketwide Correction
Crypto market capitalization fell more than 8% in the past 24 hours, data shows.
Updated Mar 19, 2024, 6:51 p.m. Published Mar 19, 2024, 11:17 a.m.
- Bitcoin short-term holders took profits last week, according to CryptoQuant.
- Ether, Solana’s SOL, BNB Chain’s BNB and Cardano’s ADA slumped more than 9%.
Bitcoin slipped under $63,000 in European morning hours Tuesday, causing a marketwide tumble that saw overall capitalization drop 8% in the past 24 hours.
The losses came after a day of large outflows from the Grayscale bitcoin ETF and lower-than-usual inflows on other ETF products on Monday. The day ended with net outflows of $154 million, as reported.
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On-chain analysis firm CryptoQuant said on X bitcoin short-term holders - or users that hold tokens for less than five months - took profits in the past week, which may have contributed to the selling pressure.
Major tokens ether , Solana’s SOL, BNB Chain’s BNB and Cardano’s ADA slumped more than 9%, CoinGecko data shows.
The meme coin sector saw losses of over 17% on average, data shows, led by dogwifhat (WIF) and at 18%. The sector has been the strongest by gains so far this year but is infamously volatile.
The broad-based CoinDesk 20, an index of major tokens minus stablecoins, slumped nearly 10%.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Proposed ‘AfterDark’ Bitcoin ETF Would Skip U.S. Trading Hours
The fund would hold bitcoin only overnight, betting on data showing bitcon gains mostly occur outside regular market hours.
What to know:
- Nicholas Financial has filed with the SEC to launch a bitcoin ETF that holds BTC only during overnight hours.
- The “AfterDark” ETF buys bitcoin after U.S. stocks close for the day and then sells bitcoin and shifts into Treasuries during the American session.
- Data shows bitcoin tending to perform better when traditional U.S. markets are closed.
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