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After a relatively quiet weekend, Bitcoin began losing value hours ago, slumping to a 12-day low at just over $26,000.
Most altcoins are also in the red today, with XRP and Toncoin dropping by about 3%.
BTC Down to $26K
Bitcoin’s price went on the offensive at the start of the previous week, surging past $27,000 and reaching as high as $27,500 on Tuesday. After a day of sideways trading, the asset lost most of its momentum and began retracing.
This culminated in a price drop to $26,400 on Thursday, around the same time the US Federal Reserve announced a change to its monetary policy – refusing to hike interest rates once again.
Nevertheless, Bitcoin recovered some ground in the following days and spent most of the weekend around $26,600. However, it was rejected when it attempted to pump higher, and the subsequent decline pushed it down to $26,000 for the first time since September 13.
As of now, BTC has managed to defend that level, but its market cap has slumped below $510 billion, and its dominance over the altcoins has dropped to 48.9% on CoinMarketCap.
BTCUSD. Source: TradingView
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Alts See Red, Not APT
Most alternative coins are also in the red today. Ethereum, Binance Coin, Dogecoin, Cardano, Solana, Litecoin, and Shiba Inu are showing losses of up to or around 1%.
Further declines are evident from Ripple and Toncoin. Both assets have retraced by approximately 3%. As a result, XRP has slipped below $0.5, while TON is at $2.2.
Polygon, Bitcoin Cash, LEO, HBAR, XLM, FIL, and CRO are also in the red today.
Aptos is among the few exceptions, having surged by over 6%. Consequently, APT trades close to $5.5.
The total crypto market cap has seen another $10 billion disappear in a day and is under $1.050 trillion on CoinMarketCap now.
Cryptocurrency Market Overview. Source: Quantify Crypto
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Disclaimer: Information found on CryptoPotato is that of the writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
