Attempts to rally Bitcoin's price over the past weekend pushed it to simply over $93,000 on Friday, however the asset encountered immediate resistance there and was driven down by three grand.
Most larger cap alternatives are also within the red each day, with some notable price declines seen in firms like PUMP, SOL and ADA.
BTC progress stopped at $93,000
The price catastrophe on November 21 drove Bitcoin to its lowest level since April, below $82,000. This meant that the cryptocurrency had lost over $25,000 in only ten days.
At this point, the bulls finally got here into motion and helped defend the $80,000 support. Over the subsequent few days, BTC recovered somewhat and stabilized at around $84,000. At the start of the business week, it began to get well more significantly and broke the resistance at $88,000 several times.
Although it held initially, BTC managed to interrupt above it on Wednesday evening and jumped to $90,000. It continued its rise on Thursday and Friday, peaking yesterday at just over $93,000. After recovering greater than $12,000 from its multi-month low, Bitcoin encountered some resistance and was pushed to $90,300 earlier today.
It defended this level and is now around $90,500 at press time. CG's market cap stays above $1.8 trillion, while its dominance over alternatives stands at 57%.
BTCUSD. Source: TradingView
Alts in red
Most altcoins have mimicked BTC's performance within the last 24 hours and recorded some losses. ETH is on the verge of falling back below $3,000, XRP is below $2.40, while SOL and ADA are down 3-4%. Companies comparable to SHIB, CC, PUMP and HASH have seen much more significant declines.
Pi Network's PI token has lost a few of its recent momentum, falling 7% within the last 24 hours to well below $0.25. In contrast, M is up greater than 16% day by day, while QNT is up 8%.
The total crypto market cap fell by $50 billion in a day and stands at $3.170 trillion at CG.
Daily overview of the cryptocurrency market. Source: QuantifyCrypto
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Article source: cryptopotato.com
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