Notcoin

2024

Starknet

Bitcoin

Arweave

The cryptocurrency market’s total capitalization crashed by a whopping 5.2% in the past 24 hours. It is currently down to about $2.75 trillion.
Total liquidations across the derivatives market also spiked above $500 million for the period. Most of them came from BTC traders, but the situation isn’t any better in the altcoins segment.
<h2 id="bitcoin-price-tumbles-to-60k-bulls-step-in">Bitcoin Price Tumbles to $60K, Bulls Step In</h2>
Bitcoin’s price plummeted to a local low at $60,170 earlier today. The last time it traded at this level was back on September 18th.
Fortunately, the bulls were quick to react. They staged a recovery to the current price of around $61,500.
<figure id="attachment_363827" aria-describedby="caption-attachment-363827" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD_2024-10-02_12-34-36.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-363827" src="https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD_2024-10-02_12-34-36.png" alt="BTCUSD_2024-10-02_12-34-36" width="2274" height="1232" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD_2024-10-02_12-34-36.png 2274w, https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD_2024-10-02_12-34-36-300x163.png 300w, https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD_2024-10-02_12-34-36-1024x555.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD_2024-10-02_12-34-36-768x416.png 768w, https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD_2024-10-02_12-34-36-1536x832.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD_2024-10-02_12-34-36-2048x1110.png 2048w, https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD_2024-10-02_12-34-36-50x27.png 50w" sizes="(max-width: 2274px) 100vw, 2274px"></a>
 <figcaption id="caption-attachment-363827" class="wp-caption-text">
 Source: TradingView
 </figcaption>
</figure>
Unfortunately, a lot of the positive momentum that was built in the last week of September is now under scrutiny. The major shift in direction seems to be stemming from the escalating tensions in the Middle East. Responding to previous strikes, Iran launched a missile barrage consisting of more than 200 ballistic rockets against Israel. Most of them were neutralized, but the latter has <a href="https://edition.cnn.com/world/live-news/israel-iran-missile-attack-middle-east-10-02-24-intl-hnk/index.html" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">stated</a> that it will respond.
Market participants are worried that an all-out war could impact prices and are apparently hedging themselves by dissolving out of risk-on assets such as Bitcoin. The prices of gold, on the other hand, are going up.
<blockquote class="twitter-tweet">
 Investors are literally selling <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> to buy <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#gold</a> as geopolitical tensions spike. <a href="https://t.co/ib7c38K75K" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/ib7c38K75K</a>
 — jeroen blokland (@jsblokland) <a href="https://twitter.com/jsblokland/status/1841112732935897457?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">October 1, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="altcoins-in-deep-red">Altcoins in Deep Red</h2>
The downfall is far from limited to Bitcoin. In fact, the primary cryptocurrency dropped by some 4% on the day, while altcoins are charting much more considerable declines.
For example, large-cap coins such as ETH, SOL, XRP, BCH, TON, ADA, DOT, and more, are all down between 6% and 10%.
The only one that’s currently an exception from the rule is SUI, which is trading flat on the day.
<figure id="attachment_363828" aria-describedby="caption-attachment-363828" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-02-at-12.38.45.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-363828" src="https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-02-at-12.38.45.png" alt="Screenshot 2024-10-02 at 12.38.45" width="2519" height="1203" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-02-at-12.38.45.png 2519w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-02-at-12.38.45-300x143.png 300w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-02-at-12.38.45-1024x489.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-02-at-12.38.45-768x367.png 768w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-02-at-12.38.45-1536x734.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-02-at-12.38.45-2048x978.png 2048w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-02-at-12.38.45-50x24.png 50w" sizes="(max-width: 2519px) 100vw, 2519px"></a>
 <figcaption id="caption-attachment-363828" class="wp-caption-text">
 Source: Quantify Crypto
 </figcaption>
</figure>
The worst performer today is Arweave (AR), which is down 15.7%, followed by Starknet (-14.9%), and Notcoin (-14.4%).
It’s interesting to see if the ongoing geopolitical tensions will continue and the way they will impact the crypto markets.
The post <a href="https://cryptopotato.com/bitcoin-plummets-to-60k-but-these-altcoins-crashed-harder-market-watch/" rel="noopener noreferrer nofollow">Bitcoin Plummets to $60K but These Altcoins Crashed Harder (Market Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Bitcoin Plummets to $60K but These Altcoins Crashed Harder (Market Watch)

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