Cryptocurrency

Bitcoin

Billion

Bitcoin’s price was stopped ahead of $100,000, and the subsequent rejection pushed it south hard, causing the asset to lose over six grand in hours. 
The altcoins have also turned red, with massive declines from the likes of Solana, Dogecoin, Cardano, Stellar, Polkadot, and many others. 
<h2 id="btc-s-substantial-correction">BTC’s Substantial Correction</h2> 
The primary cryptocurrency experienced a mindblowing rally since Trump won the US elections three weeks ago, which culminated on Friday with a surge to just over $99,800, which became the asset’s highest price level ever. However, it <a href="https://cryptopotato.com/double-digit-price-surges-from-these-altcoins-as-btc-was-stopped-before-100k-weekend-watch/" data-wpel-link="internal">couldn’t go</a> a few hundred dollars higher to tap into six-digit territory and started to lose value. 
It dropped below $98,000 on Saturday and under $96,000 on Sunday, but its actual crash occurred on Monday. Interestingly, the day started with a price increase that pushed it to $99,000 but the bears came out of the woods at this point and didn’t allow another run toward $100,000. 
Just the opposite, BTC started to lose value rapidly and slumped below $93,000 for the first time in about a week. Analysts noted that such corrections are expected following similar 40% runs. Some <a href="https://cryptopotato.com/bitcoin-dips-below-93k-after-45-rally-how-low-will-btc-go/" data-wpel-link="internal">warned</a> that there could be more pain behind the corner for the short term, but there are also <a href="https://cryptopotato.com/bitcoin-dumped-by-6k-daily-but-these-on-chain-metrics-suggest-bull-market-is-still-on/" data-wpel-link="internal">indications</a> that the overall bull cycle is not over yet. 
BTC is below $93,000 once again now, with its market cap dumping below $1.840 trillion. Its dominance over the alts has retraced slightly as well to 55% on CG. 
<figure id="attachment_372294" aria-describedby="caption-attachment-372294" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/11/BTCUSD-33.png" data-wpel-link="internal"><img class="size-full wp-image-372294" src="https://cryptopotato.com/wp-content/uploads/2024/11/BTCUSD-33.png" alt="Bitcoin/Price/Chart 26.11.2024. Source: TradingView" width="1835" height="819" srcset="https://cryptopotato.com/wp-content/uploads/2024/11/BTCUSD-33.png 1835w, https://cryptopotato.com/wp-content/uploads/2024/11/BTCUSD-33-300x134.png 300w, https://cryptopotato.com/wp-content/uploads/2024/11/BTCUSD-33-1024x457.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/11/BTCUSD-33-768x343.png 768w, https://cryptopotato.com/wp-content/uploads/2024/11/BTCUSD-33-1536x686.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/11/BTCUSD-33-50x22.png 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-372294" class="wp-caption-text">
 Bitcoin/Price/Chart 26.11.2024. Source: TradingView
 </figcaption>
</figure> 
<h2 id="alts-turn-red-too">Alts Turn Red, too</h2> 
The altcoins have plummeted hard as well in the past day, aside from ETH and TON, which have managed to remain almost at the same levels as yesterday. 
Others, though, such as SOL, XRP, DOGE, ADA, AVAX, XLM, and DOT, have plunged by up to 13%. Even more losses come from SAND and RAY, both of which are down by 15%. 
The cumulative market cap of all crypto assets has slumped by approximately $200 billion since yesterday, going below $3.340 trillion now. 
<figure id="attachment_372296" aria-describedby="caption-attachment-372296" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/11/Screenshot-2024-11-26-102453.png" data-wpel-link="internal"><img class="size-full wp-image-372296" src="https://cryptopotato.com/wp-content/uploads/2024/11/Screenshot-2024-11-26-102453.png" alt="Cryptocurrency Market Overview. Source: QuantifyCrypto" width="1880" height="826" srcset="https://cryptopotato.com/wp-content/uploads/2024/11/Screenshot-2024-11-26-102453.png 1880w, https://cryptopotato.com/wp-content/uploads/2024/11/Screenshot-2024-11-26-102453-300x132.png 300w, https://cryptopotato.com/wp-content/uploads/2024/11/Screenshot-2024-11-26-102453-1024x450.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/11/Screenshot-2024-11-26-102453-768x337.png 768w, https://cryptopotato.com/wp-content/uploads/2024/11/Screenshot-2024-11-26-102453-1536x675.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/11/Screenshot-2024-11-26-102453-50x22.png 50w" sizes="(max-width: 1880px) 100vw, 1880px"></a>
 <figcaption id="caption-attachment-372296" class="wp-caption-text">
 Cryptocurrency Market Overview. Source: QuantifyCrypto
 </figcaption>
</figure> 
The post <a href="https://cryptopotato.com/200-billion-from-crypto-markets-as-bitcoin-btc-dumps-below-93k-market-watch/" rel="nofollow">$200 Billion Gone From Crypto Markets as Bitcoin (BTC) Dumps Below $93K (Market Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

$200 Billion Gone From Crypto Markets as Bitcoin (BTC) Dumps Below $93K (Market Watch)

Table of Contents

CryptoPotato_News

Other articles published on Nov 26, 2024

Long-term Bitcoin holders offloaded 782K coins in the past 30 days

U.S. Spot Bitcoin ETFs Record $434.81M in Net Outflows on November 25

Analysts predict 9,000% surge for this new $0.045 AI multichain coin

This Unexpected Detail That Caused The Drop In Bitcoin

Bitcoin ETF Inflows Rise as GBTC Outflows Hit 0

Bitcoin Surges Past $81,000 Amid Trump’s Victory and Pro-Crypto Political Shift

Join our free newsletter for daily crypto updates!