Hold onto your hats, folks, because the crypto rollercoaster is back in action! In the spotlight this time is the infamous TRUMP coin, which has taken quite the nosedive, leaving larger-cap altcoins in its dust.
Now, let's talk about the king of crypto, Bitcoin. It was climbing the charts on Friday, reaching the dizzying heights of $107,000 before it took a tumble and lost around three grand. Ouch!
Meanwhile, the altcoin scene isn't looking too rosy either. SOL and LINK are leading the pack of losers from the larger caps. It seems like these digital darlings just can't catch a break today.
The crypto community had their eyes glued to the US inauguration ceremony on Monday. Everyone was buzzing with anticipation, waiting for the self-proclaimed ‘crypto President’ to take the stage. Before the main event, Bitcoin was having its own drama, dropping several grand Monday morning before skyrocketing to a new all-time high above $109,000. Talk about a wild ride!
But once Trump finished his speech without a single mention of the crypto world, Bitcoin took a nosedive, losing five grand in a flash. Thankfully, it found its footing in the six-digit club and even managed to climb a bit on Thursday and Friday, hitting $107,000 again. But the bears had other plans, dragging it back down to just over $104,000.
Want to keep up with all the thrilling twists and turns in the crypto markets? We've got you covered with daily updates that'll make sure you never miss a beat.
As for the overall market, it's taken a bit of a hit. The crypto market cap is sitting at $2.060 trillion, with Bitcoin holding strong with a 55.5% dominance. However, most altcoins are feeling the heat, turning red across the board. Ethereum hit a wall at $3,400 and slipped to below $3,300, while XRP is teetering on the edge of $3.1 after a 3% drop. DOGE, ADA, AVAX, and XLM aren't faring much better either.
Solana, SUI, and Chainlink are really feeling the burn, with losses up to 6%. But the biggest loser of the day is Donald Trump's official meme coin, which has taken a massive 20% plunge, falling below $28.
All in all, the crypto market has shed about $80 billion in just one day, now valued at $3.720 trillion. It's a wild world out there, so stay tuned for more updates as the crypto saga continues!
