April 12, 2024: Bitcoin Drops 5.1%, Memecoins Sell-Off Amid Market Volatility

On April 12, 2024, the cryptocurrency market experienced significant volatility, with Bitcoin's value dropping by 5.1% and major memecoins undergoing a notable sell-off, potentially facing a 20-30% decrease in value. This downturn raised concerns about the sector's ability to withstand such fluctuations. Amidst this, reactions varied, with some declaring Bitcoin as 'dead' and others likening the sell-off to a major corporation like BlackRock going out of business. Additionally, the Bitcoin halving event is nearing completion, adding another layer of complexity to the market's movements.