Bitcoin tried its hand at taking down the $52,000 level yesterday but failed in its tracks and has been pushed down by a grand.
Most altcoins have retraced even more in the same timeframe, with LINK, UNI, and ICP leading the adverse trend.
Bitcoin had a highly favorable few weeks until the start of this one, in which it soared by more than ten grand and charted a new multi-year high at $53,000. The past seven days or so were a lot less eventful as the asset has remained in a tighter range.
In fact, aside from that push to $53,000 a few days back, the cryptocurrency has been predominantly trading between $51,000 and $52,000.
The latest attempt to overcome the latter came yesterday, but the bears were quick to intercept the move and pushed it south by a grand. This volatility has led to an overall number of $125 million in liquidations in the past day.
As of now, Bitcoin still struggles to remain above $51,000. Its market capitalization has declined to $1 trillion, and its dominance over the alts is down by 1% in the past week or so to 49% on CG.
BTCUSD. Source: TradingView
Most altcoins charted impressive gains yesterday, but the landscape is entirely different today. Ethereum, for instance, went as high as $3,000, but a 2.5% decline since then has pushed it down to $2,930.
Ripple, Cardano, Dogecoin, Binance Coin, Polkadot, and Toncoin have also seen similar declines in terms of percentages.
Solana is close to breaking below $100 after a 4% daily drop. Chainlink, Uniswap, and IC have decreased by around 5% each to $18, $7.1, and $12, respectively.
Filecoin is among the few exceptions, having surged by over 6% in the past 24 hours.
The total crypto market cap has seen more than $30 billion gone overnight and is down to $2.040 trillion on CG.
Cryptocurrency Market Overview. Source: Quantify Crypto
The post Bitcoin Struggles at $51K as These Altcoins Decline the Most (Market Watch) appeared first on CryptoPotato.
Most altcoins have retraced even more in the same timeframe, with LINK, UNI, and ICP leading the adverse trend.
BTC Fails at $52K
Bitcoin had a highly favorable few weeks until the start of this one, in which it soared by more than ten grand and charted a new multi-year high at $53,000. The past seven days or so were a lot less eventful as the asset has remained in a tighter range.
In fact, aside from that push to $53,000 a few days back, the cryptocurrency has been predominantly trading between $51,000 and $52,000.
The latest attempt to overcome the latter came yesterday, but the bears were quick to intercept the move and pushed it south by a grand. This volatility has led to an overall number of $125 million in liquidations in the past day.
As of now, Bitcoin still struggles to remain above $51,000. Its market capitalization has declined to $1 trillion, and its dominance over the alts is down by 1% in the past week or so to 49% on CG.
BTCUSD. Source: TradingView
Alts See Red
Most altcoins charted impressive gains yesterday, but the landscape is entirely different today. Ethereum, for instance, went as high as $3,000, but a 2.5% decline since then has pushed it down to $2,930.
Ripple, Cardano, Dogecoin, Binance Coin, Polkadot, and Toncoin have also seen similar declines in terms of percentages.
Solana is close to breaking below $100 after a 4% daily drop. Chainlink, Uniswap, and IC have decreased by around 5% each to $18, $7.1, and $12, respectively.
Filecoin is among the few exceptions, having surged by over 6% in the past 24 hours.
The total crypto market cap has seen more than $30 billion gone overnight and is down to $2.040 trillion on CG.
Cryptocurrency Market Overview. Source: Quantify Crypto
The post Bitcoin Struggles at $51K as These Altcoins Decline the Most (Market Watch) appeared first on CryptoPotato.
![[DK]](/data/avatars/s/57/57999.jpg?1720990206){kind=avatar}
