Bitcoin Down 4%...collapse of the $70,000 mark

Bitcoin, a cryptocurrency market leader that was racing toward an all-time high, fell sharply on the 31st local time, breaking the $70,000 mark.

According to the U.S. cryptocurrency exchange Coinbase data, the price of each bitcoin at 10:50 p.m. EST on the 31st was $69,278, down 4.66% from 24 hours ago.

Bitcoin fell below the $70,000 mark three days after it exceeded $70,000 in four months on the 28th of last month.

Bitcoin crossed the $73,000 mark on the 29th of last month and is on the verge of breaking the record high recorded on March 13 this year.

However, after the rise stopped on the 30th, it fell sharply on the 31st, once falling to the $68,000 range.

At the same time, Ethereum's price, the second-largest market capitalization, also fell 5.85%.