Cryptocurrency market cap dropped below $2T and BTC slides again to a 17-day low of near $42,000 as we can see more today in our latest crypto news.
The crypto marekt cap is down by $200 billion in about a week as BTC and other altcoins are entering the deep red today. Bitcoin’s nosedive continued over the past 24 hours and the asset dropped to a 17-day low of nearly $42,000 most altcoins are in the red with most of the losses coming from Terra, Cardano, Avalanche, Solana, and DOGE from the larger-cap ones. It was just a few days ago when BTC was fighting to reclaim $47,000 and surge above this level twice in a 48-hour period but the bears came out from the shadow and didn’t allow for more increases.
Both of the attempts were rejected rapidly but the second one was met with a bigger correction. BTC dumped to $45,000 before it went further and slipped to $43,000. it bounced off from the line and surged to $44,000 but this one was a fake breakout and BTC went south again. This cumulated a drop to over $42,000 which was considered the lowest price of BTC since March 23. The cryptocurrency market cap dropped below $2% and as of now, the crypto stands a few hundred dollars above the lien but the market cap is down to $800 billion.
Similar to BTC, the altcoin space turned red and ETH is among the more modest losers with a 1.5% decline daily. As such, the second biggest cfrypto dropped to $3200 and it is worth noting taught the ETH marked a three-month high of $3500 a few days ago. Ripple, DOT, SHIB, CRO, and BNB slipped by less than 5%, and Cardano on the contrary and DOGE increased by 5%. Solana dumped by 9% and has a hard time after falling at $130. TErra lost the most with 10% in one day and sits below $95 which came after a $200 million token swap with AVAX. The crypto market cap lost $200 billion in four days which means that the metric dumped below the $2 trillion lines for the first time since March.
NEAR protocol led the way with a 24% surge to $20 while Bitcoin eyes $44K. after a few days of freefall and hitting a 2-week low, BTC bounced off and reached $44,000 with the rest of the altcoins all being in the green today. However, NEAR protocol stole the show with a 24% massive surge. The recent Bitcoin price movement was mainly going south and the asset spiked above $47,000 on multiple occasions before the bears took control over the market. One day later, BTC found itself dipping below $45,000 but the situation worsened.
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