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Bitcoin’s declines persisted over the last 24 hours, with the cryptocurrency dropping to its lowest level in April at $27,000.
Many altcoins have experienced even steeper declines. Dogecoin continues to fall sharply, while APT and OKB have seen the most significant drops among mid-cap altcoins.
Bitcoin’s April Low
The leading cryptocurrency surged on April 10, surpassing $30,000 for the first time since last June. It reached its peak price of just over $31,000 later that week on April 14.
The subsequent week was less turbulent, with BTC holding above $30,000 for the majority of the time. However, the situation shifted on April 19 when the asset dropped to $29,000 within hours. The decline continued in the following days, with BTC first falling to $28,000 before hitting a low of $27,100 earlier today.
This latter figure marks the asset’s lowest price since March 28. Currently, Bitcoin is trading just above $27,000, down 3% for the day and over 10% for the week. Its market capitalization has fallen below $530 billion after reaching $600 billion just days ago. Its dominance over altcoins has stabilized and is nearing 46%.
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BTCUSD. Source: TradingView
APT, OKB, DOGE Drop Hard
As is often the case when BTC declines, most alternative coins follow suit. Ethereum exemplifies this trend. The second-largest cryptocurrency was above $2,100 less than a week ago following the completion of the Shapella update. However, it has since lost over $250 and is now trading at $1,850 after a daily decrease of 4%.
Similar declines are observed in Binance Coin, Ripple, Cardano, Polygon, Solana, Polkadot, Litecoin, and Shiba Inu. Dogecoin has experienced the largest drop among the top 10 altcoins, with a 7% decrease, placing DOGE below $0.08.
Additional losses include Avalanche (-7%), Chainlink (-6%), ICP (-6%), FIL (-6%), GRT (-7%), and others. Aptos and OKB have seen the most significant declines, each dropping over 9% to $10 and $48, respectively.
The total cryptocurrency market capitalization has decreased by another $30 billion, now standing at $1.150 trillion. This metric has lost over $130 billion in recent days.
Cryptocurrency Market Overview. Source: Quantify Crypto
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Disclaimer: Information found on CryptoPotato is those of 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.
