PUMP and ZEC have dumped the most in the past 24 hours.
Also, most larger-capitalization altcoins are deeply in the red on a daily basis. Ethereum has once again lost the $3,000 support level, while XPR has fallen below $1.90.
BTC falls below $88,000
The primary cryptocurrency’s latest correction began last Monday after some stock and futures markets opened following Trump’s latest tariff threats against many EU countries. After rising above $95,000 that weekend, BTC fell to $92,000 on Monday and below $88,000 on Wednesday.
The bulls tried to intervene and prevent another dive. They were initially successful, bringing assets to just over $91,000 on Friday. However, that was short-lived and Bitcoin ultimately continued to lose traction, falling to $86,000 on Monday. This became the lowest price tag in more than a month.
It recovered to $88,000-$89,000 in the following days and even briefly touched $90,500 yesterday ahead of the FOMC meeting. As soon as interest rates started, they dropped to $89,000 and stayed there for hours, even though the Fed said it wouldn’t cut rates. However, the largely bearish trend has once again taken its toll in recent hours as BTC is now struggling below $88,000.
The market cap has fallen to $1.750 trillion, while the alts dominance is almost 57.4% on CG.
PI sees new ATL
As mentioned above, the alternative coins have followed suit on their way south. Ethereum failed at $3,000 and is now trading almost $100 lower. Ripple’s XRP is once again below the $1.90 support, while BNB is below $900. Similar or even more painful losses are coming from companies like SOL, DOGE, ADA, BCH and SUI.
HYPE and ZEC are down 6-8% each, while MNT is down 6.5%. Pi Network’s PI token continues to lose value and has marked another ATL in recent hours. TRX is one of the few exceptions among the larger cap alts, with a small daily increase.
The total crypto market cap has lost over $60 billion daily and is under $3,050 trillion at the time of writing.
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