Bitcoin stays at the USD 97k mark while altcoin values decline.
After approaching the $100,000 mark yesterday, Bitcoin price lost more than $3,000 to dip below $97,000.
The week had started on a positive note, with Bitcoin climbing to an all-time high of $108k on Tuesday.
But the FOMC meeting tipped the scales, leading to a strong correction that brought the price of the first cryptocurrency to $92,000 on Friday, a loss of more than $16,000 in 72 hours.
However, the market managed to regain some momentum, and Bitcoin rose to $99,600 on Saturday morning before reversing back below $96,000, a daily decline of 2%.
Currently, the price has stabilized at $97,000 as the market capitalization struggles to stay above $1.9 trillion, with Bitcoin's dominance over altcoins increasing to 55%.
Altcoin performance:
The altcoin market is back in the red.
Ethereum price failed to hold the USD 3,500 level and tumbled to USD 3,350, recording a daily decline of 3.5%.
Ripple fell from $2.4 to $2.24.
SOL, DOGE, ADA, AVAX, LINK, and SHIB all recorded significant daily declines, some as much as 11%, as in the case of APT.
As a result of these declines, the total cryptocurrency market capitalization lost another $100 billion, settling at $3.49 trillion