After a few days of recovering some of the recent losses, bitcoin has reversed its trajectory and has dropped to around $20,000. Most of the altcoins are in the red as well today, aside from Shiba Inu and LEO, both of which have charted impressive gains.
Bitcoin Down to $20K
Following last week’s massacre that culminated in a new 18-month low at $17,500 on Sunday morning, the cryptocurrency started to recover some gains.
It bounced off that line rather quickly and challenged $20,000 less than a day later. It ultimately broke above that coveted line and kept climbing. As a result, BTC found itself eyeing $22,000 yesterday.
However, it failed at that point and began losing value gradually, resulting in a dip to $20,000. As of now, the asset has managed to sustain above that level and trades just over it.
Its market capitalization, though, has declined to well below $400 billion and its dominance is down to 43.3%.
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SHIB Leads the Way
Most of the altcoins have followed BTC south in the past 24 hours. Ethereum is once again among the most substantial losers after a 7% daily decline. Consequently, ETH is back below $1,100.
Cardano, Solana, and Polkadot have declined by similar percentages. As a result, ADA is way beneath $0.5, SOL is at $34, and DOT is at $7.5.
In contrast, Shiba Inu and LEO have soared on a 24-hour scale. SHIB has jumped by almost 12% in a day and currently sits at $0.000009. LEO, on the other hand, is close to $6 after a 7% increase.
The crypto market cap has lost around $30 billion in a day and has dropped below $900 billion.
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