After failing to surpass $100,000, Bitcoin has shown signs of weakening.
Yesterday, the leading asset continued to decline, hitting a local bottom around $90,791, the lowest level since November 19.
Subsequently, the bulls quickly stepped in, pulling the price back around $92,800 at the current time.
BTC Price Chart – 4 Hours | Source: TradingView
The Altcoin market declined yesterday as BTC continued to adjust sharply.
Leading the way were Stellar (XLM) and The Sandbox (SAND) as both had the worst performance in the top 100, losing over 10% of their value. However, on a weekly timeframe, both XLM and SAND are recording impressive growth of over 70%.
Other major projects such as dogwifhat (WIF), Decentraland (MANA), Peanut the Squirrel (PNUT), Pyth Network (PYTH), Worldcoin (WLD), Internet Computer (ICP), Ethereum Classic (ETC), THORChain (RUNE), Floki (FLOKI), Polygon (MATIC), dYdX (DYDX), ApeCoin (APE), Mog Coin (MOG), BitTorrent (BTT), Marker (MKR), Pepe (PEPE)… all declined by 5-9%.
Source: Coin360
Ethereum (ETH) returned below $3,300 after failing to maintain growth above the $3,500 mark the previous day.
After finding a local bottom at $3,252, ETH bulls pushed the price back around $3,340 at the current time, down more than 3% compared to 24 hours earlier.
ETH Price Chart – 1 Day | Source: TradingView