Bitcoin Tumbles to $68K; El Salvador's Bitcoin 'Piggy Bank'

Bitcoin Tumbles and El Salvador has more of the largest Cryptocurrency by market cap than previously revealed. You're watching Coin desk daily. I'm your host, Jen Sani Bitcoin tumbles to $67,000. As Asia trading begins over $100 million in Bitcoin. Long positions have been wiped out as the world's largest digital asset fell from $70,000. Some analysts describe Bitcoin's pullback from record highs as a typical bull breather seen after a sharp uptrend. While others said that the market could be adjusting to uncertainties ahead of next month's mining reward having Bitcoin is at $67,759 down over 6%. As of 9:30 a.m. Eastern time. The Coin desk 20 index is also down around 7% at 26 04. El Salvador has more Bitcoin than we thought the Central American country moved $400 million in Bitcoin into a cold storage wallet this week. The disclosure by President Nay Bukele nearly doubled the country's known holdings of the largest Cryptocurrency by market cap. President Bukele revealed the wallet on X representing the first time the nation's holding has been tied to a specific address and Bitcoin layer two project BVM gains traction with the promise of juicy airdrops. The platform lets users start their own networks on Bitcoin and is offering developers millions of dollars as grant rewards. BBM stands for Bitcoin virtual machine and is a rapidly growing layer to protocol on the chain. It allows users to create their own layer two networks. Data shows that the project's BBM tokens have added 35% in the past 24 hours. Beating a general market decline. The tokens have surged to $3.50 from an initial 20 cents on March 8th. That's it for Coindesk daily. Get more updates on coindesk.com and we'll see you next time.