This weekend is somewhat different than the status quo, as BTC has experienced a lot more volatility, mainly heading south.
The altcoins have suffered even more, with the likes of DOGE, APT, WIF, and many others dropping by well over 5% in the past day.
BTC Slipped Below $68K
The business week started on a highly positive note for bitcoin as it jumped from $67,500 to over $71,500 on Monday and Tuesday morning. The bulls kept pushing the gas pedal, which culminated in a price surge to $73,600 later on Tuesday. As BTC came $150 away from marking a new all-time high, though, the landscape started to change, and the asset retreated to $72,000 by Wednesday.
More painful declines followed on Thursday and Friday, as the cryptocurrency dropped to $68,800. It bounced off almost immediately and soared to $71,600, but it faced another rejection.
The bears pushed it south to $68,800 once again on Saturday, but they remained persistent, and bitcoin fell to a weekly low of under $68,000 earlier today.
It has recovered some ground since then and now trades close to $68,500. Nevertheless, it is still 2% down on the day, and its market cap has declined to $1.350 trillion. The silver lining is that its dominance over the alts has jumped to 56.6% on CG.
Bitcoin/Price/Chart 03.11.2024. Source: TradingView
Alts Turn Red
The entire altcoin field has turned red today, with ETH and BNB dropping by around 3% each. Consequently, ETH now sits below $2,450, while BNB is close to breaking below $560. Similar declines are evident from SOL, XRP, TRX, TON, LINK, and BCH.
Even more painful performances come from ADA (-5%), AVAX (-6%), and Dogecoin (-7.5%). In fact, the larger meme coin is the biggest loser over the past 24 hours from the larger-cap alts.
More price plummets come from BRETT (-9%), PYTH (-8%), MEW (-8%), ICP (-7.5%), and APT (-7%).
The total crypto market cap has shed another $60 billion overnight and is under $2.4 trillion on CG.
Cryptocurrency Market Overview. Source: QuantifyCrypto
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Cryptocurrency charts by TradingView.
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