1 month ago
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Bitcoin’s price movements took a turn for the worse yesterday as the asset dipped to a multi-day low of $66,500 but has managed to recover some of the losses.
Most altcoins are in the red on a daily scale, with ETH and BNB dropping by about 3%.
BTC Uncertain at $67K
Perhaps fueled by the mindblowing net inflows into the spot Bitcoin ETFs last week, the primary cryptocurrency went on a roll and skyrocketed from $62,500 (last Sunday) to $69,000 on Friday.
There was somewhat expected calmness during the weekend, but BTC still managed to remain above $68,000. Monday started on another positive note, with the bulls initiating a leg up that drove bitcoin to its highest price tag since late July of $69,500.
As the community started to anticipate a run toward $70,000, the landscape changed, and BTC slumped by approximately three grand in hours and dipped to $66,500. This came as the overall sentiment toward the ETFs changed with the first day of outflows in a few weeks.
As of now, the cryptocurrency stands around $67,000, being 2% down on the day. Its market cap has slipped to $1.325 trillion on CG, while its dominance over the alts sits at the same spot as yesterday at 54.5%.
Bitcoin/Price/Chart 22.10.2024. Source: TradingViewUNI, APT on the Rise
Most of the altcoins, led by Ethereum and Binance Coin, have turned red today. Both larger-cap asses have slipped by over 3% and now struggle below $2,650 and $600, respectively.
Similar daily losses come from the likes of AVAX, SHIB, and BCH. SOL, XRP, DOGE, TON, and ADA are also in the red, albeit in a less painful manner. SUI and TAO have dumped the most from the larger-cap alts.
In contrast, APT and UNI are on the rise. Aptos has soared by over 9% in the past day and now trades above $11. UNI has gained 6.5% and sits north of $8.
The total crypto market cap, though, has lost over $50 billion since yesterday and is down to $2.430 trillion on CG.
Cryptocurrency Market Overview. Source: QuantifyCryptoBinance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
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Cryptocurrency charts by TradingView.
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