The total crypto market cap has fallen to $3.7 trillion on CG.
Bitcoin’s price recovery since Friday was halted at just over $107,000, and its value has since recovered by a grand.
While most altcoins are relatively sluggish on a daily basis, the weekly performance shows a clearer and more violent picture for many.
BTC Back to $106K
It’s been a hell of a ride for the primary cryptocurrency that started on October 10 with a massive price drop from over $121,000 to $110,000 on some exchanges and to $101,000 on others. The initial propeller was US President Trump’s threats against China, but the real pain came when the over-indebted market was undone.
Nevertheless, BTC recovered quite quickly and regained some ground this past weekend. The price continued to rise as the business week progressed, hitting the $116,000 mark on Tuesday. However, it was stopped there and pushed south to $110,000.
This resistance initially held, but was lost on Thursday as bears drove south to $108,000. There was another drop on Friday, this time resulting in a price dump below $104,000.
The cryptocurrency eventually reacted with relief when Trump said tariffs on China will not remain in place. BTC rose to $106,000 and even $107,000 yesterday, but as of now it was stopped and pushed south to first. The market cap has fallen to $2.120 trillion on CG, while the dominance on the alts is just over 57%.
Ups and downs
Most altcoins have remained sideways over the past day, but the weekly charts show a different picture. BNB is among the worst performers, having lost 8% of its value and trading below $1,100. BCH is down 12%, while LINK, XLM, AVAX, HBAR, ADA and XRP are also slightly in the red.
ETH, SOL, TRX and DOGE, on the other hand, are posting small weekly gains. Even more impressive increases came from companies like MNT, WLFI, TAO and ENA.
The total cryptocurrency market cap has fallen to $3.7 trillion, meaning about $500 billion has disappeared in just over a week.
Binance Free $600 (excluding CryptoPotato): Use this link to register a new account and get an exclusive $600 welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a FREE $500 position on any coin!
Disclaimer: The information found on CryptoPotato is that of quoted authors. It does not represent CryptoPotato’s views on buying, selling or holding investments. You are advised to conduct your own research before making any investment decisions. Use the information provided at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
#Weeks #Biggest #Losers #Revealed #Bitcoin #Drops #Weekend #Watch