This weekend doesn’t resemble the previous few, which were a lot less volatile, as the primary cryptocurrency has dumped hard to a ten-day low of under ,000. The alternative coins are also well in the red, and the total crypto market cap has lost over 0 billion daily and more than 0 billion in the past few days. BTC Dumps Hard Monday began on a high note as BTC soared from ,000 after retracing on Sunday evening to over ,000 to register a new all-time high. The asset kept climbing in the following days and peaked at ,800, which is the current ATH as of now. It was reached on Thursday but was followed by a massive rejection. The bears finally took control of the market and pushed Bitcoin south to under ,000 on Friday. BTC recovered some ground on
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This weekend doesn’t resemble the previous few, which were a lot less volatile, as the primary cryptocurrency has dumped hard to a ten-day low of under $65,000.
The alternative coins are also well in the red, and the total crypto market cap has lost over $100 billion daily and more than $300 billion in the past few days.
BTC Dumps Hard
Monday began on a high note as BTC soared from $67,000 after retracing on Sunday evening to over $70,000 to register a new all-time high. The asset kept climbing in the following days and peaked at $73,800, which is the current ATH as of now.
It was reached on Thursday but was followed by a massive rejection. The bears finally took control of the market and pushed Bitcoin south to under $66,000 on Friday. BTC recovered some ground on Saturday and even challenged $70,000.
However, it didn’t see much success there and was quickly driven back down to $68,000. The last 12 hours or so saw another decline that led to BTC charting a ten-day low of $64,500 (on Bitstamp). Despite recovering around a grand since that low, Bitcoin is still more than 5% down on the day.
Its market capitalization has plunged to under $1.3 trillion, but its dominance over the alts has gained 0.5% daily.
Alts in Red Again
The altcoins have followed BTC on the way down with massive declines. Ethereum had been gaining a lot of traction until the Friday rejection and had exceeded $4,000. However, ETH lost that level two days ago and is now under $3,500 after another 7% daily drop.
Similar declines are evident from Binance Coin, Solana, and Ripple. Even more losses come from the likes of Avalanche (-15%), Shiba Inu (-15%), Dogecoin (-14%), Polygon (-11%), and Polkadot (-10%).
The mid- and lower-cap alts have also bled out in the past day. This has resulted in another decline of more than $100 billion for the total market cap, which is now down to under $2.6 trillion. This means that the metric has shed over $300 billion since Friday.
