BitLight (LIGHT) experienced a dramatic 71.6% decline in its value within 24 hours, falling below the $1 mark early on December 22, according to Coingecko data. The altcoin's price currently stands at $1.12, reflecting heightened market volatility. The sharp drop in BitLight's value was accompanied by a surge in trading volume, although the specific reasons behind the decline remain unclear. Market participants are closely monitoring altcoins as volatility persists, with BitLight being a focal point due to its recent price movements.