Bitcoin’s adverse trading days continue as the asset lost more than $5,000 because the other day’s high to an intraday low of simply below $53,000. The majority of alternative coins have followed along on the way down, and the crypto market cap has actually seen over $130 billion vaporized.
Bitcoin Fell by $5,500
Following a couple of unsuccessful efforts to recover $60,000, bitcoin stayed stuck around $58,000 for a while. However, the bears took charge the other day and changed the rate trajectory rather intensely.
After reaching an everyday high of $58,500, BTC dropped by approximately $5,500 to just listed below $53,000 (on Bitstamp).
Despite bouncing off and gaining back several hundred dollars, the primary cryptocurrency is still about 7% down on a 24-hour scale.
The sharp cost decrease also damaged BTC’s market capitalization, which dipped underneath the sought after $1 trillion earlier today. Since composing these lines, however, the metric has surged back up to that specific level.
Furthermore, bitcoin’s dominance has also suffered by dropping listed below 60%. Roughly a week ago, the metric comparing BTC’s market cap with all other cryptocurrencies was well above 62%.