cryptopotato.com
Bitcoin’s nosedive continued in the past 24 hours as the asset plunged to another multi-month low of just over $82,000 before it managed to recover some ground.
Ethereum is the top loser from the larger-cap alts today, while $LTC and $AVAX stand with minor gains after another massacre.
$BTC Rebounds to $86K
A lot can change in the cryptocurrency markets in the span of a week, and sometimes even less. Just last Friday, the largest of the bunch was climbing confidently toward $100,000 after gaining more than five grand in a few days.
However, the Bybit hack stopped its ascent and pushed it south to $96,000 during the weekend. Trump’s tariffs and other controversial economic measures, as well as the growing concerns about rising inflation, pushed investors away from $BTC and the ETFs, with massive outflows for several consecutive days now.
The primary cryptocurrency dropped to $94,000 on Monday, but the real pain was observed on Tuesday, with a slump to $86,000, and on Wednesday, with another decline to $82,100 (on Bitstamp). The latter became the new three-month low.
Although $BTC has recovered some ground since then and now sits above $86,000, it’s still 3% down on the day. Its market cap has dropped to $1.7 trillion, and its dominance over the alts has decreased to 57.5% on CG.
ETH Down, $LTC Up
Ethereum continues to dig new lows and dropped toward $2,200 yesterday. It now sits above $2,350, but it is still down by 5% since this time yesterday. XRP, BNB, DOGE, ADA, TRX, XLM, SUI, and TON are also in the red from the larger-cap alts.
In contrast, $AVAX and $LTC have marked gains of over 3% within the same timeframe. APT has stolen the show after recent speculations about an ETF tracking its performance and has soared by 7% to over $6.1.
The total crypto market cap, though, has shed another $70 billion since yesterday’s peak and is down to $2.970 trillion on CG.
