Bitcoin’s price actions are disappointing as it fell from $97,000 to below $94,000 recently, down $14,000 since last Tuesday’s peak.
BTC’s Struggles See No End
The correction induced by the Fed began last week as Bitcoin dropped from its recent all-time high of over $108,000 to $92,000 in just a few days. It managed to partially recover last weekend, briefly spiking to $99,000, but this surge was short-lived, and Bitcoin fell again on Monday.
After another dip to $92,000, a bullish rally took it to just under $100,000. However, this momentum faded quickly, and Bitcoin began to lose value once more in subsequent days.
After failing to maintain $97,000 yesterday, the bears pushed Bitcoin down again to under $94,000. Although it regained some ground and is trading above this threshold, BTC remains over 2% down today.
Its market capitalization has decreased to $1.870 trillion on CoinGecko (CG), with its dominance over altcoins retracing to 54.4%.
Alts in Red Only
Alternative coins are also suffering, with Ethereum facing resistance around $3,500, now down to $3,360. XRP has dipped below $2.2, while BNB struggles to stay above $700. SOL, ADA, DOGE, and TON have all recorded losses of up to 3%.
More severe declines are seen in AVAX, SUI, LINK, DOT, and HBAR. Specifically, Chainlink’s token has dropped nearly 10%, falling well below $22.
Most lower- and mid-cap altcoins are in a similar position, resulting in a total crypto market cap decline of $150 billion over the past two days, now just above $3.4 trillion on CG.
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