After several days of trading sideways around the $37,000 level, bitcoin took a turn for the worse and dipped way below that line.
Many altcoins are also in the red today, including notable price losses from the likes of Solana, Filecoin, CRO, Aptos, and others.
BTC Drops Below $37K
The past week or so went quite positively for the primary cryptocurrency. The culmination was on Thursday when the bulls initiated a massive leg up that resulted in BTC soaring to $38,000 to register its highest price tag in 18 months.
However, the asset failed to maintain its momentum and almost immediately dumped by over two grand, leaving millions in liquidations from over-leveraged traders.
It bounced off rather quickly and had returned to above $37,000 by the time the weekend arrived. What followed were a few days of little-to-no volatility, and BTC remained at around that line.
The bears took control in the past 24 hours and pushed the cryptocurrency south to a multi-day low of $36,200. As of now, BTC has recovered some ground but still stands below $37,000.
Its market capitalization has retraced to under $720 billion, but its dominance over the altcoins stands at just over 51%.
BTCUSD. Source: TradingView Alts Turn Red, Not MATIC Though
Most alternative coins were flying high in the past several days and, somewhat expectedly, have finally cooled down on a daily scale. Some of the most substantial daily losers include Solana, Filecoin, Aptos, and CRO – all of which are down by around 5%.
More losses come from Cardano, Dogecoin, Tron, Chainlink, Polkadot, Avalanche, Litecoin, Shiba Inu, and others.
In contrast, Polygon’s native token stands tall with a 5.5% daily surge that has pushed it to over $0.9. Ripple and Ethereum are also slightly in the green.
The total crypto market cap has retraced slightly overnight but has remained above $1.4 trillion on CMC.
Cryptocurrency Market Overview. Source: Quantify Crypto
The post SOL, FIL, CRO, APT Retrace by 5% Daily, BTC Loses $37K (Market Watch) appeared first on CryptoPotato.
