Bitcoin Plummets $6,000 Daily While These Altcoins Are Dumped by Double Digits: Market Watch

The total crypto market cap fell below $3 trillion again today.

The altcoins have followed suit, with ETH losing the $3,000 and $2,900 levels, while XRP found some support at $2.00.

BTC falls below $86,000

The primary cryptocurrency hit a low of $80,500 on November 21 and began a gradual recovery over the following ten days. It rose to $84,000 over that weekend and rose to $88,000 on Wednesday. Although it was initially stopped there, it managed to break through and even regain the USD 90,000 resistance as the trading week came to an end.

The bulls kept the pressure on last Friday when they took bitcoin to a seven-day peak above $93,000. Overall market sentiment started to change as many expected another rally towards $100,000. However, that appears to be a distant dream for the time being.

Bitcoin was immediately rejected at $93,000 and floated to around $91,000, where it spent most of the weekend into the early hours of the Asian trading session. At the time, BTC began to fall rapidly, falling below $86,000 for the first time in several days.

Although it has recovered about a thousand since then, BTC is still down 5% on the day. The market cap has fallen to $1.730 trillion, while dominance over alts is above 57%.

Alts with big drops

The altcoins are also deeply in the red today. ETH has fallen more than 5% and is now struggling below $2,850. XRP is down almost 7% and is below $2.05. BNB, SOL, DOGE, ADA, LINK and HYPE have seen even more violent declines, up to 8%.

ZEC continues with its recent correction. Another 19% drop has taken the stock to $365. Remember, the asset flew past $700 not too long ago. RAIN is the only exception to the larger capitalization alts. It is up over 12% and is trading above $0.008.

The cumulative market cap of all crypto assets has lost almost $200 billion in one day and is currently around $3 trillion.