Cryptocurrency prices took a dip early Tuesday, as Bitcoin slipped below the $63,000 mark just days before the highly-anticipated halving event.
In other news, Sam Bankman-Fried was sentenced to 25 years in prison on March 28 for his involvement in the 2022 collapse of the crypto exchange FTX.
The recent string of new highs in the cryptocurrency market can be traced back to a significant milestone on Jan. 11. This marked the first trading day following the SEC’s approval of 11 bitcoin ETF applications, including those from ARK Invest, BlackRock, Grayscale, VanEck, and others. The majority of these new ETF issuers have chosen Coinbase as their custodian. How are crypto custodians ensuring the security of digital assets? 
Bitcoin saw a decline to around $62,200 early Tuesday, representing a 5.9% drop over the past 24 hours. Despite hitting a new all-time high of $73,798 on March 14, the cryptocurrency remains above its previous peak of $68,990 set in November 2021.
Ethereum also experienced a decrease of about 4% over the last 24 hours, reaching $3,065 on Tuesday morning. While Ethereum has yet to reach its 52-week high of $4,092 from March 12, it has shown significant growth since crossing the $4,000 mark for the first time in 26 months on March 8.
Digital asset investments are known for their volatility, and investors should remain vigilant in managing risks and seizing opportunities. Despite initial expectations, cryptocurrencies have not proven to be effective hedges against inflation and have instead followed broader market trends.
