These altcoins fade heavily, BTC recovers from decline to $93,000: Market Watch

NEAR heads south.

Most altcoins are in the red today, with ETH sliding towards $3,200, while XMR, LTC, ICP, NEAR and a few others have posted notable price losses.

BTC recovers from $93K

It was just a week ago when positive developments from the US pushed the primary cryptocurrency to just over $107,000. However, that $104,000 rally was short-lived and the subsequent correction was quite painful.

Initially returning to $102,000, BTC briefly recovered but continued south as the business week progressed. Friday saw the biggest price drop as the cryptocurrency plummeted to $94,000 for the first time since May.

The bulls eventually intercepted this move and pushed the asset to almost $97,000 on Sunday. Sideways trading followed for most of the weekend, through Sunday afternoon. At the time, the BTC landscape deteriorated again, falling to a new six-month low of $93,000.

It has since made back a few thousand and is now close to $96,000. However, market observers are convinced that the overall BTC structure has changed and it has entered a new kind of bear market.

For now, however, the market cap remains just inches above $1.9 trillion on CG, while the alts dominance remains stuck at 57.2%.

Alts Bleeding

Ethereum also fell hard yesterday, falling below $3,100 for the second time in just a few days. Although the price has now risen to $3,200, ETH is still down 1% on a 24-hour scale. BNB, SOL, TRX, DOGE, ADA, BCH and LINK have suffered similar losses.

HYPE and ZEC are down more than 3%, while XMR, LTC, TAO, NEAR, PUMP and ICP have charted price drops of up to 9%.

There are a few altcoins in the green, but with very modest gains, such as UNI and ENA.

The total crypto market cap has dropped another $40 billion daily and is well below $3.350 trillion on CG.