Over the past 24 hours, the cryptocurrency market has been in a difficult situation, with total capital falling by around $40 billion. This came as the major coin showed a serious drop and BTC fell below his $17,000.
Bitcoin falls below $17,000
Bitcoin’s price has taken a severe hit over the past few days, losing about 9% of its value since reaching $18,300 earlier in the week. It has fallen and is training at around $16,700 at the time of this writing.
Interestingly, Bitcoin’s dominance is growing as it is used as the primary means of measuring market share in the overall market. This means that altcoins have fared worse than BTC during this period.
Either way, it will be important to see if BTC can recapture the coveted $17,000 levels or if there is more pain in the following days.
altcoin bleeding hard
Almost all major altcoins have traded in the red throughout the past day, with a few exceptions.
As you can see above, ETH is down almost 3%, but many other altcoins are down much more. For example, BNB he is trading down 7% but has recovered a bit. Its price has previously fallen by more than 10%. DOGE is over 5%, ADA is almost 7%, MATIC is 4.5%, and so on.
That being said, there are also some exceptions. For example, the Toncoin (TON) is up 7.5% over the past day, contributing to a 33.7% gain over the past week.
At the other end of the spectrum is Filecoin’s FIL, which is down a whopping 20%, its worst performance in the last 24 hours. This is followed closely by Trust Wallet (TWT), down 19%.
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Cryptocurrency charts by TradingView.