Bitcoin recovered significantly yesterday, surging to $67,000, but the situation has turned bearish again and the asset has plunged significantly today.
Most altcoins followed suit, with significant price declines led by SOL, TON, BCH, etc.
Bitcoin’s struggles continue
It's safe to say that the past few days haven't gone as planned for BTC. The cryptocurrency was above $70,000 on Friday morning, but fell sharply later in the day following the Fed's latest announcement on interest rate policy.
Bitcoin fell to $65,000, but managed to recover about two grand by Saturday morning. However, this scenario was repeated even more violently after Iran launched a retaliatory attack against Israel on Saturday night.
BTC fell to a multi-week low of around $61,000. It rebounded on Sunday and especially on Monday, rising again to around $67,000.
However, the bears appear to be in control just days before the halving and added more footing earlier today. This time, Bitcoin fell to just under $62,000. Even though it has recovered significantly since then. BTC is still down more than 4% in the past 24 hours.
The company's market capitalization decreased by about $50 billion to $1.25 trillion, and its control over alternatives is 51.5% in CG.
Alto suffers more
As happened over the weekend, the market correction caused even more damage to altcoins. Ethereum rose to $3,300 yesterday, but has since fallen 4% to $3,100. Binance Coin, Ripple, Dogecoin, Cardano, Tron, and Polygon have also recorded similar losses.
The biggest declines in large-cap alts were SOL (-11%), TON (-10%), BCH (-12.5%), NEAR (-10%), and ICP (-8%).
Most low-cap and mid-cap alts are in a similar state, with one glaring exception. OKB. OKX’s native token is up 6.5% and hovering near $60.
The market capitalization of cryptocurrencies erased yesterday's gains and fell by $100 billion to $2.43 trillion.
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