In the last day or two, Bitcoin‘s price surge took a break, causing it to dip below the $70,000 mark and even dipping further down to around $69,000.
Today, many alternative cryptocurrencies, including BCH, DOT, DOGE, ICP, RNDR, WIF, and APT, are experiencing price drops.
BTC Down to $69K
Last week, Bitcoin suffered a significant drop in price, reaching a low of $64,500 which was its lowest point in several days. But then, the buyers stepped in to support the cryptocurrency, leading to a rally that boosted its value by approximately $5,000 on Thursday.
Following another adjustment the day prior, Bitcoin rebounded over the weekend and reached $69,000 again. However, it couldn’t surpass the $70,000 mark on Sunday, but succeeded in doing so on Monday.
Additionally, the rally reached a high of over $72,500 after four weeks, despite decreasing interest in spot Bitcoin ETFs. However, Bitcoin failed to sustain its gain and began dropping in value gradually the previous day. This morning’s Asian trading session further caused Bitcoin to fall below $68,500.
At present, the value of cryptocurrency hovers around $69,000. The market value of this digital currency has decreased to approximately $1.36 trillion. Its control over alternative cryptocurrencies remains above 50%.
WIF Heads South
Instead of BNB, TON, and XRP, the majority of larger-cap altcoins are experiencing losses today. In contrast, BNB, TON, and XRP have seen gains between 1-3%. Ethereum (ETH) has dropped by 2.5%, while Solana (SOL), Avalanche (AVAX), and Shiba Inu (SHIB) have lost around 1.5% of their value each.
In addition, significant losses can be attributed to DOGE (-3%), ADA (-3%), DOT (-3%), and BCH (-6%). Notably, WIF (-11%), APT (-11%), RNDR (-6.5%), ICP (-6.5%), STX (-5%), and NEAR (-5.3%) have experienced the most substantial price drops.
In total, the value of all cryptocurrencies combined dropped by over $40 billion in one day and over $80 billion since its record high on Monday.
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2024-04-10 11:40