Bitcoin’s price drops continued in the past 24 hours, with the asset falling below ,000 for the first time since April 9. The altcoins are also deep in the red. The total market cap has lost almost billion in the past two days. BTC Slides Under K Bitcoin was trading sideways during the weekend, and it wasn’t until Tuesday that it finally made a move, dropping by a grand to ,100. However, the bulls quickly intercepted the move and pushed the asset north, which helped it reclaim the coveted ,000 line. The landscape started to change shortly after, though, as BTC slumped by a grand in minutes. That was just the start, though, as the bears pushed it further south in the past 24 hours. This resulted in breaking below ,000 for the first time in almost two
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Bitcoin’s price drops continued in the past 24 hours, with the asset falling below $28,000 for the first time since April 9.
The altcoins are also deep in the red. The total market cap has lost almost $90 billion in the past two days.
BTC Slides Under $28K
Bitcoin was trading sideways during the weekend, and it wasn’t until Tuesday that it finally made a move, dropping by a grand to $29,100. However, the bulls quickly intercepted the move and pushed the asset north, which helped it reclaim the coveted $30,000 line.
The landscape started to change shortly after, though, as BTC slumped by a grand in minutes. That was just the start, though, as the bears pushed it further south in the past 24 hours. This resulted in breaking below $28,000 for the first time in almost two weeks.
Despite recovering a few hundred dollars since then, BTC still struggles to maintain $28,000. It’s roughly 3% down on the day and over 8% on a weekly scale.
Its market capitalization, which tapped $600 billion just days ago, now struggles at way beneath $550 billion. Its dominance over the altcoins, though, has recovered some ground, but it’s still under 46%.
Alts Turn Red
Similar to bitcoin, most alternative coins have not enjoyed the past few days. Ethereum went on to chart an 11-month high after the Shapella update last week but has since lost over $200. As a result, the second-largest cryptocurrency currently struggles to remain above $1,900.
Ripple, Cardano, Polygon, Solana, Polkadot, Litecoin, Shiba Inu, and Avalanche are also deep in the red, with losses of up to 5% in a day. Dogecoin has dumped the most (-8.5%), perhaps due to the asset’s relationship with Elon Musk. As it became known yesterday, Starship’s latest rocket exploded shortly after its launch.
With ICP, NEAR, GRT, and many other mid- and lower-cap alts charting substantial losses, the total crypto market cap has dumped beneath $1.2 trillion. This means that the metric has lost roughly $90 billion in the past two days.
