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Bitcoin’s price run after the Fed’s rate cut was halted at $64,000 and the asset was pushed down by around a grand.
The altcoins are also in the red on a daily scale, with the biggest corrections coming from the likes of TON, AVAX, and NEAR from the larger caps.
<h2 id="btc-down-to-63k">BTC Down to $63K</h2>
Bitcoin started the business week with a correction that drove it from over $60,000 to under $58,000 on Monday. It was expected to be a highly volatile week for the asset as the US Federal Reserve had a meeting on Wednesday to discuss a reduction in the key interest rates.
In the hours ahead of the event, BTC skyrocketed to over $61,000 but went on a <a href="https://cryptopotato.com/bitcoin-above-62k-us-stock-market-down-and-more-feds-rate-cut-aftermath/" data-wpel-link="internal" rel="noopener noreferrer nofollow">rollercoaster</a> once the US central bank indeed cut the rates by 0.5% on Wednesday. Nevertheless, the <a href="https://cryptopotato.com/3-bullish-signals-for-bitcoins-price-as-uptober-approaches/" data-wpel-link="internal" rel="noopener noreferrer nofollow">bulls</a> prevailed and initiated another massive leg-up that drove the cryptocurrency to <a href="https://cryptopotato.com/bitcoin-pumps-to-64k-fed-cuts-rates-saylor-buys-more-btc-this-weeks-recap/" data-wpel-link="internal" rel="noopener noreferrer nofollow">just over $64,000</a> yesterday, which became its highest price tag in over three weeks.
However, the asset failed to maintain its run and has declined by a grand since then, currently trading around $63,000. Additionally, there are <a href="https://cryptopotato.com/high-levels-of-fomo-hint-at-bitcoin-rally-halt-after-btcs-surge-above-64k/" data-wpel-link="internal" rel="noopener noreferrer nofollow">other signs</a> that the run could be over for now, and BTC could drop even further.
Its market capitalization has retraced to just under $1.250 trillion, and its dominance over the alts, which shot up to 55% at one point, is now down to 54.3% on CG.
<figure id="attachment_361644" aria-describedby="caption-attachment-361644" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-27.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-361644" src="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-27.png" alt="Bitcoin/Price/Chart 21.09.2024. Source: TradingView" width="1835" height="819" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-27.png 1835w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-27-300x134.png 300w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-27-1024x457.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-27-768x343.png 768w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-27-1536x686.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-27-50x22.png 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-361644" class="wp-caption-text">
 Bitcoin/Price/Chart 21.09.2024. Source: TradingView
 </figcaption>
</figure>
<h2 id="alts-in-retracement-mode">Alts in Retracement Mode</h2>
The alternative coins registered impressive gains since Wednesday as well but have calmed on a daily scale. ETH, XRP, BNB, TRX, and SHIB have seen price movements of less than 1%. Others, such as SOL, DOGE, ADA, LINK, and BCH, have declined by 1-2%.
More notable price drops have come from the likes of Toncoin, Avalance, and NEAR Protocol. TON has tanked by 5% and now sits at $5.5, AVAX is down by 4% to $27, and NEAR (-4%) sits at $4.3.
WIF is the biggest loser from the top 100 alts, having dumped by almost 10%. NOT, BRETT, POPCAT, and AR follow suit.
The total crypto market cap has shed about $40 billion since yesterday and is below $2.3 trillion now.
<figure id="attachment_361645" aria-describedby="caption-attachment-361645" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-21-095948.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-361645" src="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-21-095948.png" alt="Cryptocurrency Market Overview. Source: QuantifyCrypto" width="1880" height="828" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-21-095948.png 1880w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-21-095948-300x132.png 300w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-21-095948-1024x451.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-21-095948-768x338.png 768w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-21-095948-1536x676.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-21-095948-50x22.png 50w" sizes="(max-width: 1880px) 100vw, 1880px"></a>
 <figcaption id="caption-attachment-361645" class="wp-caption-text">
 Cryptocurrency Market Overview. Source: QuantifyCrypto
 </figcaption>
</figure>
The post <a href="https://cryptopotato.com/btc-price-retraces-to-63k-wif-dumps-by-10-daily-market-watch/" rel="noopener noreferrer nofollow">BTC Price Retraces to $63K, WIF Dumps by 10% Daily (Market Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

BTC Price Retraces to $63K, WIF Dumps by 10% Daily (Market Watch)

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