These Altcoins suffered the most when Bitcoin fell to a new local low: Market Watch

Meanwhile, MYX has seen impressive daily gains.

Altcoins also bled heavily again, with ETH being one of the worst performers of late. XMR has also fallen by a significant percentage in the last 24 hours.

BTC is recovering from local lows

It was less than a week ago, last Wednesday, when the primary cryptocurrency challenged the $90,000 resistance. But whether it was the Fed’s decision to stop cutting interest rates or rapidly rising tensions in the Middle East, assets failed to break through and entered a prolonged correction.

It initially crashed to $81,000 on Thursday. The bulls staged a small recovery to $84,000 on Friday, but lost control of the market on Saturday afternoon as BTC took another dive.

This time, the cryptocurrency plummeted below $76,000 for the first time since April last year, leaving more than $2.5 billion in liquidations. After a failed recovery attempt on Sunday, bitcoin fell again to $74,400 on Monday morning. This meant it had lost more than $15,000 in just a few days.

It has since recovered some ground and is now close to $78,000 amid what is expected to be another volatile week. Its market cap stands at $1.550 trillion, while its alt dominance on CG is just over 57.5%.

Alts that bled out

Ethereum has been hit hard in recent days. Last Wednesday the price was above $3,000, but earlier in the day the price fell towards $2,100. Despite now recovering to almost $2,300, it is still down 5.5% on the day. XMR is the other notable daily loser, up to $400.

XRP, BNB, SOL, DOGE, ADA, BC, LINK and XLM are also well in the red on a daily basis, while Pi Network’s native token hit another low hours ago. In contrast, MYX is up 13.5%, followed by a 10% gain versus M.

The total crypto market capitalization has fallen by $300 billion since Saturday and by $500 billion since last Wednesday to $2.650 trillion.