Cryptocurrency

Bitcoin

Bitcoin’s inability to conquer the $70,000 line has resulted in immediate selling pressure as the asset has dumped below $67,000 in the past few hours. 
The altcoins are also in the red, and the total crypto market cap has declined to just over $2.4 trillion from the local peak of $2.5 trillion registered on Monday morning. 
<h2 id="btc-slips-beneath-67k">BTC Slips Beneath $67K</h2> 
After ending a highly positive trading week last Friday, the primary cryptocurrency calmed over the weekend. It had soared from $62,500 last Monday to $69,000 on Friday before it retraced slightly to $68,000 on Saturday and Sunday. 
Monday began on an even more favorable note, as the asset jumped to $69,500 for the first time since late July. However, it failed to continue its ascent and was quickly <a href="https://cryptopotato.com/bitcoin-price-dips-below-67k-pausing-hopes-for-ath-rally/" data-wpel-link="internal">rejected</a> before ever having the chance to challenge $70,000. 
This resulted in immediate price drops that brought it south to $66,600 yesterday. It <a href="https://cryptopotato.com/apt-uni-chart-gains-amid-market-wide-correction-btc-shaky-at-67k-market-watch/" data-wpel-link="internal">tried to bounce off</a> since then, but the bears kept pushing it down and the cryptocurrency now trades way below $67,000 again. 
Its market capitalization has slumped to $1.320 trillion on CoinGecko, but its dominance over the alts has risen to 54.8% from 54.5% yesterday. 
<figure id="attachment_367423" aria-describedby="caption-attachment-367423" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD-17.png" data-wpel-link="internal"><img class="size-full wp-image-367423" src="https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD-17.png" alt="Bitcoin/Price/Chart 23.10.2024. Source: TradingView" width="1835" height="819" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD-17.png 1835w, https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD-17-300x134.png 300w, https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD-17-1024x457.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD-17-768x343.png 768w, https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD-17-1536x686.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/10/BTCUSD-17-50x22.png 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-367423" class="wp-caption-text">
 Bitcoin/Price/Chart 23.10.2024. Source: TradingView
 </figcaption>
</figure> 
<h2 id="alts-see-red">Alts See Red</h2> 
The rising BTC dominance during times of bitcoin corrections means only one thing – the altcoins have it worse. Some of the poorest performers from the larger caps include SUI, APT, UNI, and WIF. All of those have dumped by more than 5% in the past 24 hours. 
Most of the remaining alts in the top 36 bracket are in a similar state but with slightly less painful drops. XRP, DOGE, LINK, and AVAX have slipped by around 3-4% each. ETH and BNB are down by 1.5% to under $2,600 and $580, respectively. 
The cumulative market capitalization of all crypto assets has dumped to $2.41 trillion on CG. This means that the metric is down by about $90 billion since Monday’s peak. 
<figure id="attachment_367424" aria-describedby="caption-attachment-367424" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-23-113553.png" data-wpel-link="internal"><img class="size-full wp-image-367424" src="https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-23-113553.png" alt="Cryptocurrency Market Overview. Source: QuantifyCrypto" width="1882" height="822" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-23-113553.png 1882w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-23-113553-300x131.png 300w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-23-113553-1024x447.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-23-113553-768x335.png 768w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-23-113553-1536x671.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/10/Screenshot-2024-10-23-113553-50x22.png 50w" sizes="(max-width: 1882px) 100vw, 1882px"></a>
 <figcaption id="caption-attachment-367424" class="wp-caption-text">
 Cryptocurrency Market Overview. Source: QuantifyCrypto
 </figcaption>
</figure> 
The post <a href="https://cryptopotato.com/crypto-markets-shed-90b-in-2-days-as-bitcoin-btc-loses-67k-level-market-watch/" rel="nofollow">Crypto Markets Shed $90B in 2 Days as Bitcoin (BTC) Loses $67K Level (Market Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Crypto Markets Shed $90B in 2 Days as Bitcoin (BTC) Loses $67K Level (Market Watch)

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