Bitcoin’s unsuccessful attempt to break through $ 64,000 dropped the number one cryptocurrency to $ 58,000, and most altcoins followed after market capitalization fell by $ 200 billion in a single day. We read even more in today’s altcoin news.
After Bitcoin’s unsuccessful attempt to break through the $ 64,000 region, BTC pulled back and hit $ 58,000 with most of the other altcoins also in the red. Shiba Inu was in tears on a massive double-digit price spike and after the ATH hit $ 67,000 last week, BTC started a gradual decline as it fell below $ 60,000 a few times in the past few days. After the weekend’s drop, the situation changed and BTC rose to over $ 63,000.
This is the level the cryptocurrency hit yesterday, as well as before it tried to break the $ 64,000 price point. However, the impotence changed the market situation. Bitcoin lost a few thousand dollars in the coming hours and was above $ 61,000, which only added to the volatility and resulted in a major liquidation for traders. ByBt data shows that liquidations rose to over $ 750 million over the past day. Similar to BTC, most of the altcoins dropped quite a bit and ETH fell below $ 4000 after mining new ATH a few hours ago. However, ETH has not been able to break its previous record and rejections drove them south.
Binance Coin, Chainlink, and Polkadot are the only top ten coins to see single-digit declines, and conversely, Solana, Ripple, Cardano, and Dogecoin were all shed double-digit percentages over the past day. There are a few exceptions, however. The Shiba Inu rose 20% that day and its profit was 30% higher a few hours before the market crash. The meme token has even hit new highs again. Aave is doing well, up 20% on the 24 hour scale and is currently above $ 400. Some other obvious losses come from Fantom by 20%, EOS by 18%, Curve DAO by 17%, Filecoin by 16%, Elrond by 16%, Ethereum Classic by 16% and ThorChain by 15%. Total crypto market cap has lost around $ 200 billion from its high a day ago to today’s low of just over $ 2.4 trillion.
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