Bitcoin dropped by over a grand in the past 24 hours and registered its lowest price tag in about a week earlier today.
The altcoins are also slightly in the red now, with LDO dumping the most (over 6%).
Bitcoin Slips Under $27K
Last week’s unfavorable market conditions culminated on Friday when BTC slumped to a two-month low at $25,800. However, the asset bounced off during the weekend, and spent most of it at around $27,000.
Monday began on a more positive note as BTC jumped to $27,600. However, it failed there and quickly lost all daily gains. Another leg up came on Wednesday, but the bears intercepted the move once again, and BTC was unable to challenge $27,500.
The subsequent rejection was a lot more violent than the previous one. It took bitcoin south by a grand, and it plummeted to a weekly low of $26,400. Despite regaining several hundred dollars since then, bitcoin still trades under $27,000 as it’s 2% down on the day.
As a result, its market capitalization has slumped back down to $520 billion, while its dominance over the altcoins sits tight at 46.3%.
XRP Defies Market Sentiment
Most of the altcoins have also followed suit with minor daily declines. Ethereum, for one, has retraced by around 1% and is close to breaking below $1,800 once again. Binance Coin is back below $310 after a similar daily decline.
Cardano, Solana, Litecoin, Polkadot, Shiba Inu, and Avalanche have produced drops of around 1-2%. More daily losses come from the likes of Chainlink, ATOM, and TONCOIN – all of which are down by around 3%.
Lido DAO’s native token has dropped the most from the larger-cap alts with a 6% nosedive. Yet, LDO still trades above $2.1.
Ripple is the only top 10 alt with a minor daily increase. XRP, perhaps fueled by the positive developments around the blockchain company’s legal case against the SEC, is up by around 3% and trades above $0.45.
The total crypto market cap erased yesterday’s gains and is down to $1.120 trillion.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
