Altcoins
Bitcoin Falls Below $64,000 as Altcoins Also Decline Today: Market Watch
The cryptocurrency market is currently in a correction phase as it appears that the bulls are taking a breather after their rally of the past few days. This has led to a drop in the total market cap to around $2.45 trillion, a loss of around $40 billion in the last 24 hours.
Bitcoin price is also falling, as are most altcoins, so let’s take a closer look.
Bitcoin Price Falls Below $64,000
BTC bulls failed to sustain the price above $66,000 earlier in the week, and since then, bears have managed to take control.
Sellers are now trying to push BTC below $63,000, after contributing to a 2% daily decline.
According to data from CoinGecko, Bitcoin dominance (the metric that measures its share relative to the rest of the market) is currently at 51.2%. It has declined by about 0.2% in the last 24 hours, meaning that altcoins, collectively, are doing relatively better.
The volatility we’ve seen this week comes amid intense political unrest in the United States ahead of the presidential election. Prominent figures in the crypto community are voicing their opinions, including Messari’s Ryan Selkis, Ethereum’s Vitalik Buterin, Cardano’s Charles Hoskinson, and many others.
Altcoins are also down
The majority of altcoins are also down. Some are obviously doing better than others. For example, SOL, TRX, and TON have managed to stay in the green despite the overall market slowdown, even if only slightly.
Others, like Ripple’s XRP, AVAX, ADA, UNI, MATIC, etc., are showing slightly larger declines, between 3 and 5%.
But it’s not all doom and gloom. Some cryptocurrencies have managed to defy the crisis in the last 24 hours. Mantle is up 10%, while WIF is up 6%.
On the other hand, the worst performers during this period were Lido DAO (LDO) and GALA, both of which lost almost 7%.
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