In contrast, BCH and PI have dumped the most from the large- and mid-cap alts.
Bitcoin’s troubles only intensified as the legacy financial markets started to open during the night, with the asset dipping to a new multi-week low of under $77,000.
Most altcoins have followed suit with painful declines from ETH, DOGE, and especially BCH. On the contrary, HYPE and ZEC have defied the crash.
BTC Below $77K
The previous business week was significantly more bullish for the primary cryptocurrency. It began with some volatility on Sunday that included a dip below $80,400, but it quickly rebounded and gained $2,000 in minutes. Although it was stopped there at first, BTC returned to the $82,000 level on Tuesday, only to be halted once again.
This correction was more painful and pushed it south to under $79,000 on Wednesday. The bulls took the upper hand on Thursday after the CLARITY Act passed the US Senate Banking Committee, and bitcoin returned to $82,000. However, this turned out to be another fakeout, and the subsequent rejections have been quite brutal.
The asset fell to under $80,000 by Saturday and down to $78,000 on Sunday. After spending 24 hours fighting to stay above that support, it gave in on Monday morning after Trump’s latest threats against Iran. Bitcoin dropped to $76,500 for the first time in roughly three weeks, and currently stands below $77,000.
Its market capitalization is down to $1.540 trillion on CG, while its dominance over the alts remains above 58%.
HYPE Up, Most Down
Ethereum is close to breaking below $2,100 after another 3% drop on a daily scale. BNB is down to $640 after a 2% decline, while XRP is under $1.40 following a similar dip. DOGE has plunged by over 5% daily, while BCH has plummeted by more than 11% and now struggles at $365.
With most other alts in the red, there are two obvious exceptions – HYPE and ZEC. The former has soared past $45, while the latter stands at around $530. Pi Network’s native token continues to dig new local lows, dumping below $0.15 earlier today.
The total crypto market cap has shed another $50 billion and is down to $2.630 trillion as of press time.
Prefer CryptoPotato on Google News – Never miss a breaking move
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Disclaimer: Information found on CryptoPotato is that of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.