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Bitcoin

After several days of charting notable increases, bitcoin’s price has finally retraced by falling toward $58,000 earlier this morning.
The altcoins are also in the red on a daily scale, with the total market cap bleeding over $60 billion.
<h2 id="btc-slipped-toward-58k">BTC Slipped Toward $58K</h2>
Bitcoin bottomed last Friday at under $53,000, and the bulls took control in the following ten days or so. Within this timeframe, the asset jumped to over $58,000 last Monday, dumped to $55,500 after the US CPI numbers came out on Wednesday but went back on the offensive, which culminated on Friday and Saturday morning.
More specifically, BTC finally broke above $60,000 on Friday evening and <a href="https://cryptopotato.com/crypto-markets-added-70-billion-daily-as-bitcoin-btc-soared-to-16-day-peak-weekend-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">soared</a> to a multi-week peak of around $60,600. It calmed during the weekend but <a href="https://cryptopotato.com/bitcoin-price-flirts-with-60k-as-weekly-gains-surpass-10-market-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">maintained</a> $60,000 for the most part.
However, Monday started with a price dip that drove it south by about two grand. As a result, BTC slipped to $58,100 earlier today, but so far has managed to recover most losses and trades at just over $59,000. This is <a href="https://cryptopotato.com/big-week-ahead-for-crypto-as-markets-tank-ahead-of-fed-rate-decision/" data-wpel-link="internal" rel="noopener noreferrer nofollow">expected to be a big week</a> for all financial markets as the US Fed will have a FOMC meeting on Wednesday and Thursday, with anticipations that it will lower the key interest rates.
Bitcoin’s market cap has declined to $1.165 trillion, while its dominance over the alts has jumped to 54.3% on CG.
<figure id="attachment_360270" aria-describedby="caption-attachment-360270" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-18.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-360270" src="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-18.png" alt="Bitcoin/Price/Chart 16.09.2024. Source: TradingView" width="1835" height="827" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-18.png 1835w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-18-300x135.png 300w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-18-1024x461.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-18-768x346.png 768w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-18-1536x692.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-18-50x23.png 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-360270" class="wp-caption-text">
 Bitcoin/Price/Chart 16.09.2024. Source: TradingView
 </figcaption>
</figure>
<h2 id="sui-defies-market-sentiment">SUI Defies Market Sentiment</h2>
Most altcoins mimicked BTC’s performance over the past day, meaning that they have turned red. Ethereum is down by over 3% and now sits at $2,330. SOL, DOGE, LINK, and BCH have posted similar declines, while XRP, TON, AVAX, and SHIB are down by around 2%.
Cardano’s native token has slipped by almost 5% to $0.33. In contrast, TRX has seen a minor increase of 1.5%, while SUI has defied the overall market sentiment today with a 5.5% surge. Consequently, it now trades above $1.1.
The cumulative market cap dropped by more than $80 billion earlier today but has recovered some ground and is now at $2.145 trillion.
<figure id="attachment_360274" aria-describedby="caption-attachment-360274" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-16-113341.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-360274" src="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-16-113341.jpg" alt="Cryptocurrency Market Overview. Source: QuantifyCrypto" width="1883" height="837" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-16-113341.jpg 1883w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-16-113341-300x133.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-16-113341-1024x455.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-16-113341-768x341.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-16-113341-1536x683.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-16-113341-50x22.jpg 50w" sizes="(max-width: 1883px) 100vw, 1883px"></a>
 <figcaption id="caption-attachment-360274" class="wp-caption-text">
 Cryptocurrency Market Overview. Source: QuantifyCrypto
 </figcaption>
</figure>
The post <a href="https://cryptopotato.com/these-altcoins-bleed-out-the-most-as-bitcoin-btc-dipped-to-58k-market-watch/" rel="noopener noreferrer nofollow">These Altcoins Bleed Out the Most as Bitcoin (BTC) Dipped to $58K (Market Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

These Altcoins Bleed Out the Most as Bitcoin (BTC) Dipped to $58K (Market Watch)

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