XRP is currently the biggest loser among the top 100 alts, falling below $1.40. ZEC and MORPHO follow this example.
Most altcoins have also been badly bled, and it’s not just XRP. ETH, BNB, SOL, DOGE, ADA and many more have seen huge declines.
BTC fell below $70,000
It’s almost hard to believe that Bitcoin was trading at $90,000 just over a week ago, last Wednesday. The developments since then have been nothing less than pure bear dominance. Although the reasons are still debated, the fact is that BTC was forcibly rejected at that time and driven hard south.
Initially, the price fell to $81,000 last Thursday, recovered to $84,000 on Friday and plummeted again to less than $75,000 on Saturday. After a failed relief rally to $79,000, the bears were back in control and pushed the price to $73,000 on Tuesday.
The dead-cat bounce pattern repeated itself and bitcoin continued to lose value over the past twelve hours. In addition, earlier today the price fell below $70,000 for the first time since just after the 2024 US elections.
It has now risen to just above $70,000, but it is still 7% lower daily and 20% in the red weekly. The market cap has plummeted to $1.410 trillion on CG, while alt dominance struggles at 57%.
Alts keep bleeding
The charts of the altcoins are just as painful, sometimes even more so. ETH is down 6% and even Vitalik Buterin has started throwing away his tokens. BNB has dumped below $700, while XRP has become the worst performer today, dropping double digits to below $1.38. This is the lowest price tag in over a year.
SOL, ADA
The total crypto market cap has wiped out another $170 billion and is now below $2.5 trillion on CG.
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