September 30, 2022

Bitcoin Dipped to $60K Losing $7K Since Tuesday’s ATH (Market Watch)

2 min read

Following the past numerous days of rising greater and higher, BTC remedied hard in the previous 24 hours and even dipped below $60,000 briefly. Most altcoins did the same, and the entire market cap lost more than $150 billion since its peak earlier today.

Bitcoin Lost $7K in Days

The main focus in the cryptocurrency area in the previous week or two was on the first-ever Bitcoin Futures ETF going live in the United States on Tuesday. The ecstasy for such a long-anticipated product moved a massive cost surge for the digital possession, which broke above its April ATH and charted a new one a day later at $67,000.

Nevertheless, it failed to remain there, and the bears started to press it south gradually. As reported yesterday, BTC dropped to $63,000, but the correction was far from over.

In the past 24 hours, the cryptocurrency kept declining. This time, it fell to simply under $60,000. As such, it meant that BTC had actually declined by more than $7,000 in a matter of days.

Currently, it has bounced off and recuperated some ground. Nonetheless, it’s still 4% down on the day, and its market capitalization is listed below $1.150 trillion.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView Alts Also See Red The alternative coins have actually followed their leader south. Ethereum was close to breaking its own ATH at almost$ 4,400 a couple of days back but failed and dropped to $3,900 the other day. As of now, ETH stands at just over$ 4,000, however it’s still 3% down in a day.

Solana was likewise inches away from painting a fresh all-time high. Now, however, SOL trades at $200. Binance Coin, Cardano, Ripple, Polkadot, and Terra are also in the red.

Small gains appear from Dogecoin, Avalanche, and Chainlink. More increases come from Huobi Token (11%), Fantom (11%), Curve DAO Token (10%), Harmony (9%), and OKB (7.5%).

In contrast, OMG Network, Flow, The Graph, SushiSwap, Stacks, and ICON have actually lost the most in a day.
The cryptocurrency market cap is down to $2.530 trillion, suggesting it has shed off $150 billion given that the peak two days back.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto