Altcoins Fall Sharply, Bitcoin (BTC) Heads Toward $60K
(Strategy Home)
Over the past 24 hours, liquidations totaled $100M, with BTC leading (as it almost always does) with $37M in liquidations.
Altcoins Are Losing
Many of the large-cap altcoins are also seeing small declines. For example, ETH is down 1.8% on the day, BNB is down 1.6%, SOL is down 2.5%, TON is down 1.7%, and so on.
Others are seeing bigger declines, like UNI, which is down 6%.
Meme coins (an interesting category in the crypto market) are seeing similar declines. The category as a whole is down more than 3% over the past 24 hours, with DOGE and SHIB down 1.3%.
PEPE is down 5.2%, and BON is down 3%.
Overall, the worst performer today is Lido’s LDO governance token, which is down 15%. Ethena’s ENA fell 9.2%, followed by Starknet’s STRK, which fell 6.4%.
On the other hand, the best performer was Quant’s QNT token, which surged 10% on the day. Arweave’s AR was second with a gain of 4%.
Nonetheless, the past day’s trading volume overall fell to around $67 billion, which was to be expected considering it is the weekend. However, it will be interesting to watch how this relatively narrow range will resolve and whether bulls will gain a foothold or if the pullback will deepen.
