Markets
Bitcoin (BTC) Price Unstable at $67,000, Altcoins Turn Red (Market Watch)
Bitcoin price fell below $67,000 several times over the past 24 hours, but reacted well to each correction and is now back on this line.
Altcoins are slightly in the red on a daily scale, with TON, ADA and SHIB retracing by around 3%.
BTC goes down and up
It was less than a week ago – last Tuesday – when the price of the leading cryptocurrency fell to just over $61,000 due to issues with Coinbase. However, the asset rebounded almost immediately and began a notable rally on Wednesday following the announcement of US CPI numbers.
In a few hours, BTC jumped by several thousand dollars and exceeded $66,000. It corrected Thursday to just under $65,000, but reversed its trajectory again by the end of the week.
This resulted in a few price increases above $67,500, with the latest occurring on Sunday. However, the bears intercepted the move and pushed BTC to just under $66,000. A bit more volatility followed, followed by another brief decline, but bitcoin is currently back up to near $67,000, down less than 0.5% in one day.
This means that the cryptocurrency’s market cap remains around $1.32 trillion and its dominance over alts is close to 52%.
Bitcoin/Price/Chart 05/20/2024. Source: TradingView
Alts See Red
Most altcoins mimicked BTC’s performance over the past 24 hours, posting minor losses. ETH is on the verge of falling below $3,100 after a 0.4% daily decline as anticipation as SEC ruling on Ethereum ETFs develops. Binance Coin declined by a similar percentage to $576.
Further losses from larger-cap alternative assets come from XRP, DOGE, AVA, DOT, TRX and BCH, while TON, SHIB and ADA are down 2.5-3%.
In contrast, Solana’s native token jumped 2.5% and stands at almost $180. WIF, PEPE, NEAR and GRT are also slightly in the green.
The total crypto market cap has lost some value since yesterday and now stands at just under $2.550 trillion on CG.
Cryptocurrency market overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored)
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Cryptocurrency Charts by TradingView.