Hold onto your hats, crypto enthusiasts! Today's rollercoaster ride in the crypto world has left XRP as the biggest loser. Seems like “Uptober” isn’t living up to its hype just yet. Bitcoin took a nosedive, dropping to $60,000 yesterday, leaving the bulls scratching their heads.
But it’s not just Bitcoin feeling the pinch. The altcoins are tumbling too, with Ethereum, Solana, Chainlink, Avalanche, and more taking a 5-6% hit. Just last Sunday, Bitcoin was strutting around at a cool $66,000 after a stellar week of gains. But just like that, the bears decided to crash the party, sending the prices into a tailspin.
After a dramatic drop to $63,000 on Monday and $60,200 on Tuesday, Bitcoin slipped just under $60,000 yesterday. The bulls tried to rally, pushing it back over $62,000 midday, but alas, the bears had other plans. Now, Bitcoin is hanging around $60,500, leaving everyone wondering if October will deliver the bullish vibes it’s known for.
Despite the dip, Bitcoin's market cap still stands strong, although it’s now under $1.2 trillion, down from over $1.3 trillion just days ago. The silver lining? Bitcoin’s dominance over the altcoins has surged to 54.5%, thanks to the widespread altcoin slump.
The big talk of the crypto town is the SEC’s surprise move to appeal a court decision in its case against Ripple, which sent XRP’s price plummeting by double digits. XRP is now struggling to hold onto $0.51, down a whopping 14%.
Other big players like Ethereum, Solana, Avalanche, and Chainlink are also feeling the heat, with significant drops across the board. And if you’re looking for the biggest crashes, ENA, BEAM, WIF, and BONK are leading the pack with drops of 20%, 19%, 16%, and 15% respectively.
Overall, the total crypto market cap has taken a $150 billion hit since the start of October, now standing at $2.2 trillion. But hey, in the wild world of crypto, anything can happen! Stay tuned for more thrilling updates.
