Bitcoin’s inability to stage a notable recovery continued in the past 24 hours ,as the asset was stopped at $88,000 and pushed south by around two grand.
Most larger-cap altcoins are quite sluggish, with ETH slipping to $2,900, while XRP has defended the $1.90 support.
Recall that just a week ago, before and after the Fed’s decision to lower the interest rates, BTC’s price was riding high as it challenged $94,500 on a couple of occasions. However, the subsequent rejections, especially the second one, brought a lot of pain and uncertainty for the asset.
It first fell to $90,000 but managed to defend that level by the end of the business week and during most of the weekend. It slipped to $88,000 on Sunday but quickly rebounded to $90,000.
The landscape changed for the worse on Monday afternoon when bitcoin suddenly plunged by more than four grand to just over $85,000. It rebounded to $88,000 yesterday but was stopped there and now struggles to remain above $86,000.
Its market capitalization has declined further to $1.720 trillion, while its dominance over the alts stands at just under 57%.
As mentioned above, the larger-cap alts are quite stable on a daily scale, with little to no fireworks. ETH is slightly in the red to just over $2,900, XRP has remained above $1.90, and BNB stands at $860. BCH and XMR have posted the most substantial gains, while CC and TAO have dropped the most.
ASTER leads once again on the losing side, with another 8.5% decline in the past 24 hours. PUMP and ENA follow suit. In contrast, NIGHT has gained 6%, followed by SKY and PI, both of which have marked 4% increases. Pi Network’s native token dipped below $0.20 yesterday but now sits inches above that line.
The total crypto market cap has lost another $30 billion overnight and is close to breaking below the $3 trillion level.
