In a most unfortunate twist of fate, Bitcoin has chosen to partake in an athletic plunge, tumbling beneath the fateful $88,000 mark for the first time since mid-November, perhaps celebrating the occasion with a glass of lukewarm orange juice. 🍊
Bitcoin plummeted to an abysmal low of just beneath $88,000 on Bitstamp. 📉
This catastrophic event marked its lowest point since November 15—just a scant ten days post-US elections. Presently, BTC grapples with the prospect of reclaiming the elusive $88,000, having faced a brisk rejection at the $90,000 checkpoint only moments before. How splendidly tragic!
The market cap, a fickle mistress, has lost a staggering $150 billion in a singularly dreary day, resting at a mere $1.750 trillion on CG. But hark! There’s a silver lining amid this storm—a burgeoning dominance over the beleaguered altcoins, rising to a majestic 58.8%. Surely, amidst chaos, one must celebrate such miniscule victories.
The Altcoin Abrupt Downward Spiral
When Bitcoin ascends, alts often rejoice; when Bitcoin plummets, alas, the altcoins plummet right alongside it, entangled in a frenzied act of self-destruction. Ethereum has taken a particularly theatrical leap, cascading below $2,400 in an alarming 11% drop, likely with the grace of a ballerina who has just lost her footing. 🤦♂️
XRP, DOGE, ADA, SOL, LINK, XLM, AVAX, LTC, SUI, and a plethora of other unfortunate players have succumbed to the dual calamity of downward movement, each registering price losses exceeding 10% within the span of a single day. Only BNB and TRX seem to quibble with having unceremonious single-digit declines—a tad too proud, it seems.
In total, the grand accumulation of all crypto assets has shed an astounding $300 billion in just one day, dipping below the $3 trillion mark on CG for the first time in over three months. How delightful!
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2025-02-25 13:18