Following a somewhat stagnant weekend in which BTC remained in a range between ,000 and ,000, the asset dumped to a two-week low of just over ,000. Most alternative coins have performed even worse, with ETH plummeting beneath ,000 for the first time since May. Altcoins in Red; ETH Below K Altcoins have been gradually declining in value for the past several days. Ethereum has been at the forefront as it traded well above ,600 less than a week ago. However, the second-largest digital asset lost several hundred dollars in days, and the past 24 hours only worsened its performance. ETH dumped by more than 0 in a relatively short period to an intraday low of ,980 (on Bitstamp). Thus, the asset dropped below ,000 for the first time since May 23rd. The
Topics:
Jordan Lyanchev considers the following as important: ADABTC, ADAUSD, BCHBTC, bchusd, Bitcoin (BTC) Price, BNBBTC, bnbusd, BTCEUR, BTCGBP, btcusd, btcusdt, DOGEBTC, DOGEUSD, DOTBTC, DOTUSD, DOTUSDT, ETHBTC, Ethereum (ETH) Price, ethusd, featured1, LINKBTC, LINKUSD, LTCBTC, ltcusd, Market Updates, social, UNIBTC, UNIUSD, UNIUSDT, xrpbtc, xrpusd
This could be interesting, too:
Wayne Jones writes Chinese Auto Dealer Dives Into Bitcoin Mining With 6M Investment
CryptoVizArt writes Ethereum Price Analysis: Following a 15% Weekly Crash, What’s Next for ETH?
CryptoVizArt writes Bitcoin Price Analysis: Is BTC In Danger of Falling to ,000 Soon?
Jordan Lyanchev writes Ripple, Dogecoin Whales Bought the Dip as XRP, DOGE Prices Soar
Following a somewhat stagnant weekend in which BTC remained in a range between $35,000 and $36,000, the asset dumped to a two-week low of just over $32,000. Most alternative coins have performed even worse, with ETH plummeting beneath $2,000 for the first time since May.
Altcoins in Red; ETH Below $2K
Altcoins have been gradually declining in value for the past several days. Ethereum has been at the forefront as it traded well above $2,600 less than a week ago.
However, the second-largest digital asset lost several hundred dollars in days, and the past 24 hours only worsened its performance. ETH dumped by more than $300 in a relatively short period to an intraday low of $1,980 (on Bitstamp). Thus, the asset dropped below $2,000 for the first time since May 23rd.
The situation with the rest of the alts is quite similar, and they are all deep in red on a 24-hour scale.
Binance Coin (-4.5%), Cardano (-4.5%), Dogecoin (-8.5%), Ripple (-7%), Polkadot (-10%), Uniswap (-8.5%), Bitcoin Cash (-9%), Litecoin (-8.5%), Solana (-10%), and Chainlink (-5%) have all lost sizeable chunks of value.
From the lower- and mid-cap alts, Stacks has lost the most after a 17% dump. BakeryToken (-15%), NEM (-14%), SushiSwap (-14%), Qtum (-13%), Amp (-13%), ICP (-13%), and Chiliz (-13%) are a few more reps of the double-digit price decline club.
Ultimately, the cumulative market capitalization of all cryptocurrency assets lost over $120 billion in a day to below $1.4 trillion.
Bitcoin Sees a Two-Week Low
The situation with the primary cryptocurrency is not that different. Despite sliding in value for a few days, BTC had actually recovered some losses during the weekend and stood around $36,000.
The price trajectory changed rapidly following new FUD coming from China. The nation’s third-largest bank banned all of its customers from dealing with digital assets, which impacted the market immediately.
Consequently, BTC fell by more than $2,000 in a few hours and $4,000 on a 24-hour scale. The asset dropped to just over $32,000, which became its lowest price tag in roughly two weeks.
Despite recovering around a thousand dollars since then, bitcoin is still more than 6% down on the day, and its market cap is just over $600 billion. Its market dominance has increased slightly just because the alts have it even worse today.
