Bitcoin was stopped at just over $70,000 earlier this week and has been unable to resume its bullish momentum since then, as it even dipped toward $67,000 yesterday.
The alternative coins are also in retreat, with SHIB, DOT, DOGE, PEPE, and WIF losing substantial percentages of their USD value overnight.
The spot Ethereum ETF news from last week sent the primary cryptocurrency on a wild ride that included a massive surge to almost $72,000 and a subsequent rejection and nosedive to $66,400 just a few days later.
However, once those financial products were indeed greenlighted on Thursday, BTC started to recover some ground and spent the weekend at around $69,000.
Monday was even more promising as the bulls initiated a leg-up that saw bitcoin skyrocket to a multi-day peak of just over $70,500. However, this is where the trend changed, and the cryptocurrency started losing value rapidly. Just a few hours later, it slumped to under $67,500.
Another bounce-off followed, but the scenario repeated, and BTC slipped to a multi-day low of $67,200 late last night. It has been unable to recover most losses and now sits way beneath $68,000 once again.
Bitcoin’s market cap has dropped to $1.330 trillion, but its dominance over the alts has risen by 0.5% in a day to 50.2%.
Bitcoin/Price/Chart 30.05.2024. Source: TradingView
As reported a couple of days ago, the two top-performing assets were from the meme coin niche – PEPE and WIF. The former kept rising and charted yet another all-time high, while the latter had gained momentum with a double-digit surge.
The landscape is entirely different now as PEPE has dumped by 14% in a day, while WIF is down by more than 11%. Other larger-cap alts deep in the red include SHIB (-7%), DOT (-5%), DOGE (-4.5%), SOL (-3%), NEAR (-4.5%), and more.
Binance Coin lost the $600 level after a 1% daily decline, while ETH has slipped by 2% to $3,750.
The total crypto market cap has seen over $60 billion gone overnight and is down to $2.650 trillion on CG.
Cryptocurrency Market Overview. Source: QuantifyCrypto
The post Pepe (PEPE) Dumps 14% After Recent ATH, Bitcoin (BTC) Loses $68K (Market Watch) appeared first on CryptoPotato.
The alternative coins are also in retreat, with SHIB, DOT, DOGE, PEPE, and WIF losing substantial percentages of their USD value overnight.
BTC Shaky at $68K
The spot Ethereum ETF news from last week sent the primary cryptocurrency on a wild ride that included a massive surge to almost $72,000 and a subsequent rejection and nosedive to $66,400 just a few days later.
However, once those financial products were indeed greenlighted on Thursday, BTC started to recover some ground and spent the weekend at around $69,000.
Monday was even more promising as the bulls initiated a leg-up that saw bitcoin skyrocket to a multi-day peak of just over $70,500. However, this is where the trend changed, and the cryptocurrency started losing value rapidly. Just a few hours later, it slumped to under $67,500.
Another bounce-off followed, but the scenario repeated, and BTC slipped to a multi-day low of $67,200 late last night. It has been unable to recover most losses and now sits way beneath $68,000 once again.
Bitcoin’s market cap has dropped to $1.330 trillion, but its dominance over the alts has risen by 0.5% in a day to 50.2%.
Bitcoin/Price/Chart 30.05.2024. Source: TradingView
PEPE, WIF on the Decline
As reported a couple of days ago, the two top-performing assets were from the meme coin niche – PEPE and WIF. The former kept rising and charted yet another all-time high, while the latter had gained momentum with a double-digit surge.
The landscape is entirely different now as PEPE has dumped by 14% in a day, while WIF is down by more than 11%. Other larger-cap alts deep in the red include SHIB (-7%), DOT (-5%), DOGE (-4.5%), SOL (-3%), NEAR (-4.5%), and more.
Binance Coin lost the $600 level after a 1% daily decline, while ETH has slipped by 2% to $3,750.
The total crypto market cap has seen over $60 billion gone overnight and is down to $2.650 trillion on CG.
Cryptocurrency Market Overview. Source: QuantifyCrypto
The post Pepe (PEPE) Dumps 14% After Recent ATH, Bitcoin (BTC) Loses $68K (Market Watch) appeared first on CryptoPotato.
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