Bitcoin’s price actions took another turn for the worse over the past several hours, dropping by almost three grand toward $69,000.
Most altcoins have followed suit, charting 4-5% daily losses. As a result, ETH has dipped below $2,100, BNB is down to $630, and XRP is beneath $1.40.
BTC Below $70K
After it was rejected at $76,000 last week and pushed south to $69,000 by the time the weekend approached, the primary cryptocurrency actually spent Saturday and Sunday trading mostly at around $70,000 and even tapped $71,000 briefly.
However, Trump’s latest threats against Iran sent it south by a few grand to just under $68,500. It dipped further when the legacy futures markets opened to $67,500 before it skyrocketed on Monday to over $71,600 after the POTUS said the US and Iran have been in talks to de-escalate the war.
It whipsaw once Iran denied the claims, and even dipped below $69,000 briefly on Tuesday. It went on the attacks once again on Wednesday and touched a weekly peak at $72,000 when the bears stepped up once again. BTC managed to maintain above $71,000 for several hours, but began to break down earlier today and slipped to just over $69,000 minutes ago.
Its market capitalization has declined to under $1.4 trillion, while its dominance over the alts is down to 56.5% on CG.
M Defies the Overall Correction
Ethereum has dropped by almost 5% in the past 24 hours and now struggles below $2,100 again. BNB is down to $630 after a 3% decline, and XRP is beneath $1.40 after a similar drop. More painful decreases are evident from ADA, DOGE, ZEC, MNT, DOT, NEAR, and AAVE from the larger-cap alts.
TRX is among the few exceptions from this cohort of assets, but it’s just slightly in the green. In contrast, MemeCore has exploded by over 33% daily, and now sits above $2.30. ZRO, SIREN, TRUMP, and MORPHO, on the other hand, have posted losses of over 6%.
The total crypto market cap has shed $60 billion in a day and is down to $2.460 trillion on CG.
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