Oh, what a rollercoaster ride it’s been for Bitcoin and friends! One minute, Bitcoin was racing toward that magical $100,000 mark, and the next, it took a nosedive, losing over three grand faster than you can say “crypto crash.” Talk about a plot twist!
And it’s not just Bitcoin feeling the blues. The altcoin gang, including SOL, DOGE, ADA, AVAX, LINK, and SHIB, all seem to be painting the town red—but not in a good way. They’re all seeing some pretty hefty daily price drops, making crypto holders everywhere clutch their virtual wallets.
The week kicked off with fireworks as Bitcoin soared from $101,000 to a jaw-dropping new all-time high of over $108,000 by Tuesday. But then came Wednesday, bringing with it a not-so-friendly US FOMC meeting that sent Bitcoin spiraling. By Friday, it had tumbled down to around $92,000, shedding more than $16,000 in just three days. Yikes!
But fear not, the bulls weren’t ready to throw in the towel just yet. They managed to stop the plunge, nudging Bitcoin back up to $95,000. It even tried to push past the $99,600 mark on Saturday morning. Just when we thought it might crack the six-digit barrier, Bitcoin pulled another U-turn. Classic!
In the latest twist, Bitcoin dipped below $96,000, though it’s managed to crawl just above that line now. Still, it’s down about 2% for the day. Its market cap is hanging by a thread above $1.9 trillion, and its dominance over the altcoins has inched up to 55%, as those pesky alts took a harder hit.
Yesterday’s fleeting moment of relief for the altcoin market was just that—fleeting. Ethereum couldn’t hold its ground at $3,500, slipping down to $3,350 with a 3.5% daily drop. XRP also took a hit, falling from just below $2.4 to $2.24.
And then there are the altcoins like SOL, DOGE, ADA, AVAX, LINK, SHIB, XLM, DOT, HBAR, APT, ICP, AAVE, and CRO, all nursing wounds with daily losses reaching up to 11% in some cases, like APT.
Overall, the total crypto market cap has taken a $100 billion hit in just one day, dropping to $3.460 trillion. Ouch!
Stay tuned for more crypto drama, because in this market, it’s never a dull moment!
