Bitcoin Plunges Over $3K After $85K Rejection, Altcoins Get Hit Harder: Market Watch

XMR has defied the odds once again, posting a massive double-digit surge. It was less than 24 hours ago that BTC was riding high, and the bulls had turned their focus to the next major milestone ahead of $90,000. Now, though, the attention is back on the $80,000 level and whether it will help prevent another massive leg down. The altcoins are deep in the red as well, far below yesterday’s peak. XMR is the only exception here, while NEAR, UNI, TAO, WLD, BTW, and AAVE have marked substantial losses. BTC Rejected at $85K Again The primary cryptocurrency dipped below $80,000 precisely a week after inflation fears materialized following the release of the US CPI and PPI reports. However, it reacted well to this nosedive and rebounded by nearly $3,000 in an instant. More volatility ensued over the weekend, including a flash crash on Saturday evening, and a fresh decline to under $81,000 on Sunday. The bulls went on the offensive on Monday, pushing BTC to $83,000. It was stopped there again and dropped by $2,000. A sudden price uptick drove it north by the same amount, and BTC topped $83,000 on Tuesday evening. The actual gains came on Wednesday when the cryptocurrency climbed to a two-we...