Today, the crypto market is having one of those “oops” moments, with LINK and SUI leading the way in the downward dance. Bitcoin, the superstar of the crypto world, shot up to a dazzling $96,000 but quickly lost its sparkle, dropping a few thousand bucks within hours. Talk about a rollercoaster!
The altcoin crew isn’t faring much better. Ethereum is sliding down to under $3,400, Solana is chilling at $190, and Cardano is hanging around $0.85. It seems like the crypto party took a bit of a nosedive to start off the new year.
Bitcoin had a rough patch as 2024 came to a close. After hitting an all-time high of $108,300, it tumbled down to $92,000 in no time. Although it tried to climb back up to $100,000 a couple of times, the bears were having none of it, pulling it back down each time.
On Monday, BTC hit a low of $91,300, marking its lowest point in over a month. But the bulls weren’t ready to throw in the towel just yet, pushing it up to $95,000 later that day, and even reaching $96,000 on Tuesday. However, it was another quick rise and fall, now sitting at just over $93,000.
The crypto market cap took a hit too, dropping below $1.850 trillion. Bitcoin still holds a strong grip on the altcoin market with a dominance of 54.3%.
The rest of the altcoin gang is also feeling the pinch. Ethereum, SOL, DOGE, ADA, AVAX, TON, and DOT are all in the red. Chainlink and SUI are having a particularly tough time, with LINK losing nearly 5% and slipping under $20.
On the flip side, XRP is finally seeing a bit of sunshine after a rough week, and VIRTUAL, OM, and XMR are enjoying gains of about 5-7% each.
Overall, the total crypto market cap has shed around $30 billion, bringing it down to $3.4 trillion. It's a wild ride in the crypto world today!
