Bitcoin fell below $28,000 for the first time in about a week as the asset nosedived over the weekend. The price of Bitcoin enjoyed enhanced volatility last week surging to just under $30,000 on Friday night. As the bulls prepared to take down that level, all of a sudden the bears emerged and prevented further price rises.
On Saturday, the price began to lose value rapidly and slipped under $28,500. For most of Sunday, the price traded around $29,000 as the day was uneventful.
However, as the weekend edged closer to an end, things changed for the worse. This time, Bitcoin dumped to under $28,000 charting its lowest price tag in about a week.
The asset is currently trading below $28,000 as it struggles to reclaim that level. Its market cap tanked down to $540 billion as BTC is down by 3.5% on the day. Bitcoin’s dominance over the alts is rather stable, sitting at 47%.
Image Source: TradingView
ALTCOINS BLEEDING
As is usually the case when BTC heads south, most of the altcoins follow suit. Ethereum following Bitcoin’s price decline tanked down to $1,850. Binance Coin, Solana, Dogecoin, Tron, Cardano, and Litecoin have all also declined by about 3-4%.
Amongst the larger-cap alts, Polygon, Shiba Inu, Shiba Inu, and Avalanche have all dumped by 5% or more.
Overall, the total crypto market capitalization has declined to $1.115T on Coinmarketcap.com. Dropping by $40 billion daily and $60 billion in the past two days.
Featured Image Source: Marca
