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- Several altcoins, such as Solana (SOL), Dogecoin (DOGE), and Toncoin (TON), are among the worst performers over the last 24 hours as the price of Bitcoin (BTC) declined.
Bitcoin’s value experienced another significant downturn yesterday, falling below $60,000 for the first time in over a month.
Many altcoins are also experiencing substantial losses today, with SOL, DOGE, and TON dropping by more than 5-6%.
BTC’s Recent Decline
Just under a week ago – last Friday – the leading cryptocurrency was trading above $70,000 and even approached $71,000.
However, this was short-lived, as external factors, including comments from the US Federal Reserve and escalating tensions between Iran and Israel, triggered considerable price drops.
The decline began on Friday evening, with a fall to $65,000. After a brief recovery on Saturday, BTC experienced another drop later that evening following an attack by Iran on Israel, leading to a decrease to $61,000.
Although it regained some value on Sunday and Monday, this recovery was temporary, and Bitcoin began to lose value again. This trend culminated yesterday when the cryptocurrency fell to just below $60,000 for the first time since early March 2024.
See Also: Bitcoin Price Prediction As BTC Bounces From $60,000 Level – More Selling Incoming?
Despite being over $1,500 higher than that low, BTC is still down 3% for the day and is just above $61,000. Its market capitalization has decreased to $1.210 trillion, while its dominance over altcoins remains at 51.5%.
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BTC Price Chart | Source: Coinstats
Alts Turn Red Again
Altcoins have also mirrored this trend with price declines in the past 24 hours.
Ethereum, for example, dropped from over $3,100 to below $3,000 and is currently facing challenges as well. With the exception of BNB, which is slightly positive, the remaining altcoins are significantly in the red.
altcoins turn red
This downward trend is led by Dogecoin, which has fallen by over 8%. Toncoin (-6.5%) and Solana (-5%) follow, along with ADA, AVAX, SHIB, TRX, and LINK.
Additional losses are seen in WIF (-10%), TAO (-7.5%), OKB (-7.5%), and others.
The total cryptocurrency market capitalization has decreased by $60 billion overnight, now standing at $2.350 trillion.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
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The post These Altcoins Dumped The Most As Bitcoin (BTC) Slipped Beneath $60K appeared first on BitcoinWorld.
