These Altcoins Disappear as Bitcoin (BTC) Loses $90,000 in Support: Weekend Watch

The total crypto market cap is dropping by more than $60 billion every day.

Most altcoins have followed suit, with almost all charts deeply in the red today. ZEC and CC lead the way south.

BTC under $90,000

The new month started off on the wrong foot again for the largest cryptocurrency. The asset had recovered somewhat after the November crash and was above $91,000. However, the bears returned on Monday and began a violent leg drop that drove BTC to just under $84,000.

After losing more than $7,000 in hours, Bitcoin recovered almost as quickly and regained the $90,000 mark on Tuesday. Moreover, the price continued to rise in the following days, challenging the $94,000 resistance a few times.

However, it could not reach that level, and the subsequent retracement took it to the $91,000-$92,000 range. That was until Friday, when the bears regained control of the market following the release of the US PCE and Core PCE data.

BTC fell to $88,000 within minutes, dragging the altcoins with it and causing $500 million in liquidations. It has since risen again, but at the time of writing it is still below $90,000. The market cap has fallen to $1.8 trillion, while CG alt dominance is above 57%.

Alts in red

Most larger cap alts are also in the red today. Ethereum is inches above $3,000 after a 3.4% decline, while XRP is almost below $2.00 after another 2% decline. SOL, ADA, LINK, HYPE, DOGE and XLM are seeing losses of up to 5%, while SUI, ENA, PEPE, UNI and DOT are down 6-7%.

Even bigger losses come from ZEC and CC, both of which have been dumped by double digits. In contrast, BCH and TRX have posted small gains.

The total crypto market cap has lost around $60 billion in one day, falling to $3.130 trillion on CG.