đ„đ„đ„ These #Altcoinsđđ Bleed Out the Most as #bitcoinâïž ($BTC ) Slips Below $63K (Market Watch)
Bitcoin Dips Below $63K After Brief Surge
Bitcoin briefly surpassed $65,000 yesterday but faced a sharp correction, falling over $2,000 and currently trading below $63,000.
BTC's Recent Performance
Last week, Bitcoin remained mostly below $60,000. However, Fridayâs news brought a shift: Fed Chair Jerome Powell hinted at potential interest rate cuts, and RFKâs exit from the 2024 presidential race, combined with his endorsement of Donald Trump, led to a notable Bitcoin rally. The price surged by over $4,000 by Saturday morning.
Despite a quiet weekend, Bitcoin attempted to break through the $65,100 mark on Monday but was met with resistance. Since then, it has lost over $2,000, now struggling to stay above $63,000. Bitcoinâs market capitalization fell by $20 billion in one day to $1.240 trillion, while its dominance over altcoins hovers around 54%.
Altcoins Hit Hard
The decline in Bitcoin has also impacted altcoins significantly. Uniswap (UNI) and Chainlink (LINK) experienced the sharpest drops, with UNI falling nearly 6% and LINK losing 6.4% in the past 24 hours. UNI is now below $6.20, and LINK is under $12.
Other altcoins like Cardano, Bitcoin Cash, Polkadot, Tron, Dogecoin, and Toncoin have declined by 3-4%. Ethereum ($ETH ), Binance Coin ($BNB ), Solana (SOL), XRP, and Avalanche (AVAX) have also seen losses, though less severe.
The total market capitalization of all #Cryptocurrencies has dropped by over $50 billion in a day, now just under $2.3 trillion.
Source - cryptopotato.com
