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Bitcoin’s instability continued in the past 24 hours as the asset dipped below $113,000 after getting rejected at $116,000.
The altcoins are back in the red, with substantial price declines from the likes of XRP, SOL, HYPE, XLM, LTC, TON, and others.
BTC’s Insecurity Continues
The primary cryptocurrency’s troubles began last Wednesday when the US Federal Reserve refused to lower the key interest rates for the fifth consecutive time. BTC retraced by a few grand but bounced to $119,000 on Thursday.
However, macro uncertainty, such as new tariffs and nuclear submarine movements, resulted in another, more painful nosedive. In just a few days, the cryptocurrency plunged by several grand and bottomed during the weekend at $112,000.
The bulls finally stepped up at this point and started to push the asset north. The gradual ascent culminated yesterday when BTC briefly neared $116,000 but was stopped ahead of that resistance.
In the following hours, bitcoin dropped to under $113,000 once again. It has recovered some ground and now trades around $114,000, with a market cap of just under $2.270 trillion. Its dominance over the altcoins stands close to 60% on CG.
BTCUSD. Source: TradingViewAlts in Retrace Mode Again
Ethereum was also stopped ahead of a big resistance at $3,700 and now sits closer to $3,600. BNB, TRX, and BCH are with minor losses, while XRP, SOL, DOGE, HYPE, XLM, and TON have dropped by more substantial percentages of up to 4%.
Pi Network’s native token has dropped by 4% as well, and sits close to its all-time low once again, which was recorded at the end of the previous business week. BONK and PENGU have dropped the most from the largest 100 alts, losing 6-7% each.
Litecoin’s LTC is down by 5% after yesterday’s impressive surge. MNT continues to be among the few altcoins in the green, adding another 2-3% since yesterday’s pump.
The cumulative market cap of all cryptocurrency assets has slipped by another $30 billion and is well below $3.8 trillion on CG now.
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