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Bitcoin’s price actions during the weekend hinted at a potential break out toward $100,000, but Monday started on the opposite corner, slumping to $95,000.
Many of the larger-cap alts are also in the red now, with $SOL losing over 4% and $DOGE dropping by 3%.
$BTC Slides to $95K
Last week saw quite a few fluctuations for the primary cryptocurrency, with the bears taking control at the start and dumping the asset to under $91,000 on Tuesday. After that, though, the bulls took charge and initiated a few consecutive leg-ups that resulted in bitcoin exploding above $97,000 on Wednesday and nearing $99,000 on Friday.
However, the cryptocurrency failed to maintain its run and retraced during the weekend by a few grand. The Monday morning Asian trading session saw a brief price surge to over $98,000, but $BTC was quickly and violently rejected.
In the following hours, the asset slumped by over three grand and slipped below $95,000 for the first time since Friday. This came amid reports that a few whales had deposited large quantities of $BTC to exchanges, potentially to secure some profits.
Bitcoin’s current price tag means that its market cap has dropped below $1.9 trillion, and its dominance over the alts is down to 53.2% on CG.
$XRP, $HBAR on Another Planet
Most larger-cap alts have followed $BTC’s example with some price drops. Such examples are ETH (-2%), $SOL (-4.3%), BNB (-2.6%), $DOGE (-3%), and TON (-4%).
In contrast, ADA, XLM, AVAX, LTC, and LINK have all posted gains of up to 17% in the Litecoin case.
However, the day belongs to $XRP, which is up by 22% since yesterday. Moreover, it tapped $2.5 earlier today to mark a new multi-year high and briefly became the third-largest cryptocurrency.
$HBAR is another mindblowing gainer, having surged by over 26% and trading close to $0.25.
The total crypto market cap, though, has declined by about 2.5% in a day and sits below $2.550 trillion now.
beincrypto.com
newsbtc.com
blockchainreporter.net