cryptopotato.com
Bitcoin’s struggles continue as the asset fails to initiate a notable recovery, and its price is still below or around $96,000.
The altcoins are not in great shape either, with many, such as $XRP, $ADA, and $AVAX, still 3-4% down on a daily scale.
$BTC Keeps Struggling
A lot can change in the cryptocurrency markets within a week, and this has been the case for the past seven days or so. Just last Monday and Tuesday, $BTC posted fresh gains and shot up above $108,000 to mark its latest all-time high.
However, the landscape started to change on Wednesday evening after the latest FOMC meeting. Bitcoin reacted with an immediate price drop to under $100,000, but that was just the start. It kept plummeting in the following days, which culminated on Friday with a price slump to $92,000.
$BTC managed to stop the freefall at this point and even jumped to over $99,000 on Saturday morning. However, that was short-lived again and it fell to $96,000 on Sunday and is currently sitting there. The question now arises whether the new trading week will be any different, given some of the factors that could impact $BTC’s price.
For now, bitcoin’s market cap stands at $1.9 trillion on CG, while its dominance over the alts is just shy of 55%.
Alts in Similar State
The altcoins have produced similar or even more painful declines over the past several days. The landscape is quite gloomy now as well, with $XRP, $AVAX, $ADA, SHIB, DOGE, and ETH still in the red. DOT, XLM, SUI, and APT have dropped again over the past day.
AAVE is the only exception from the larger-cap alts with an actual noteworthy price surge. The asset has gained roughly 10% and now sits at $340 amid the broader correction.
The cumulative market capitalization of all crypto assets is down to $3.460 trillion on CoinGecko.
