Bitcoin (BTC) Drops Below $108,000, Aster (ASTER) Plummets by Double Digits: Market Watch

BTC bears have regained control and the asset lost most of yesterday’s gains.

The cryptocurrency market reversed its trajectory today (October 21), with numerous leading digital assets charting significant declines.

BTC fell to around $107,500, while altcoins like ASTER suffered much more painful losses.

Red day for BTC

The primary cryptocurrency started the new business week on a high, with its valuation rising as high as $111,500. However, the revival was short-lived and the bears regained control again.

Over the past few hours, BTC has charted a substantial red candle and dropped to around $107,500, marking a 3% decline on a daily scale and a 13% crash on a two-week basis.

The renewed downward trend in assets caused some analysts to envision dark scenarios and even the potential end of the bull run. X user Dr. For example, Profit claimed that a drop below the critical $101,700 level could confirm a bear market. On the other hand, several factors, such as the reduced amount of BTC stored on exchanges, indicate that it is not all doom and gloom.

After BTC’s price drop, its market capitalization has shrunk to around $2.14 trillion, while its dominance over altcoins is around 58%.

The Alts are also heading south

The major alternative coins have followed BTC’s lead and witnessed even bigger declines. Ethereum (ETH) fell 4.5% to the current $3,860, Ripple’s XRP fell well below $2.50, while Solana (SOL) plummeted 5% to $184.

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Aster (ASTER) is the biggest loser of crypto’s top 100 club, down 12% on a 24-hour scale. Mantle (MNT) and Hyperliquid (HYPE) follow with declines of 10% and 8% respectively.

Among the few altcoins currently in the green area are ChainOpera AI (COAI), Provenance Blockchain (HASH), and Zcash (ZEC). The total cryptocurrency market capitalization has fallen to approximately $3.73 trillion, marking a decline of 3.2% for the day.