CC is currently the best player, while UNI is deep in the red.
Bitcoin’s latest rejection above $90,000 on Monday resulted in a continued decline below $86,500, and the asset is poised to end the year in the red.
Most larger cap alts are also in the red today, with XRP sliding further away from the USD 1.90 support and ETH approaching the USD 2,900 support.
BTC under $87,000
The primary cryptocurrency saw increased volatility at the end of the previous business week, especially since the release of US CPI data for November, which was much better than expected. Initially, BTC jumped to $89,500, but it was halted there, riding to a multi-week low of $84,400 in less than 12 hours.
The bulls intercepted the move and helped Bitcoin regain some ground above $89,000. The weekend was, as expected, quite slow, but BTC took off again on Monday, hitting the $90,400 mark for the first time in five days.
However, that was another short-term move as the bears moved quickly and stopped allowing further gains. On the contrary: Bitcoin has since lost more than three thousand dollars and is now struggling below $87,000.
The market capitalization has fallen to $1.730 trillion on CoinGecko, while alternative coin dominance remains well above 57%.
Alts See Red
As mentioned above, the charts of the altcoins are also quite disappointing. Ethereum, which peaked at $3,060 a few days ago, has now fallen to $2,920, after another 1.5% decline in the past 24 hours. BNB was stopped at $870 and has now fallen to $835. XRP has lost the crucial support at USD 1.90, after falling 1.5% since yesterday.
SOL, DOGE, ADA, BCH and ZEC are also in the red daily with losses of up to 2%, while TAO is down 5.5%. In contrast, CC is up 6.5% to $0.09.
Pi Network’s native token has shown some resilience amid the general market weakness, defending the $0.20 support after rising 1.5% in the day.
The total crypto market cap has lost more than $100 billion since Monday’s peak, falling to $3.020 trillion on CG.
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