Hold onto your hats, crypto fans! The market's been a wild ride today, and AI16Z is leading the charge with the biggest drop. Poor Bitcoin can't seem to catch a break and has slipped below the $93,000 mark a couple of times in the past 12 hours.
It's not just Bitcoin that's feeling the blues. Many altcoins are facing tough times too, with significant price slumps for DOGE, ADA, AVAX, LINK, and others. Just two days ago, Bitcoin was riding high, hitting new yearly peaks above $102,000. But as soon as the latest US jobs report hit the news, the cryptocurrency took a nosedive, dropping from its six-digit glory to under $97,000 in mere minutes on Tuesday afternoon.
Things only went downhill from there on Wednesday, with the bears dragging BTC even further down to a low of $92,500. It managed a brief bounce back to $95,000, but that was short-lived as ETF flows went negative, causing a $600 million drain. As Thursday's Asian trading session rolled on, BTC dipped below $93,000 again. While it's currently hovering just above that line, it's still down nearly ten grand since Tuesday morning.
Bitcoin's market cap has taken a hit, falling below $1.850 trillion, but it still reigns supreme over altcoins with a dominance of over 54%. Meanwhile, the altcoins are struggling, especially Cardano's ADA, which has plunged over 8% in the last 24 hours, losing its grip on the $1 mark. DOGE, AVAX, LINK, and XLM aren't far behind, with drops up to 7%.
But the real heartache comes from AI16Z and WIF, both of which have nosedived by double digits—19% and 14%, respectively—landing at $1.47 and $1.62. The overall market cap of all crypto assets has shed over $350 billion in just two days, now sitting at $3.4 trillion. It's a rollercoaster out there, folks! Stay tuned for more action-packed updates in the crypto universe.
