BTC dumped $3500 after the recent $60K level rejection while the coin continues failing in surpassing the $60K level with the latest rejection driving the asset to a new low of $56,500. The entire altcoin space started bleeding out as well so let’s read more in today’s BTC news.
BTC dumped $3500 after another failed attempt to overcome the $60K level while most altcoins followed south with the entire market cap losing more than $60 billion in one day. BTC was flirting with the $60K region for a few consecutive days but every attempt to reconquer was met with a strong rejection. The situation repeated in the past 24 hours as BTC was closing down to its rounded level-nemesis with the bears taking control and pushing the coin south.
In the next few hours, the benchmark cryptocurrency deleted $3500 of its value and hit a new low of below $56,500 on some exchanges. Despite bouncing off and adding $1000, BTC is still up by 3% on a daily scale. The technical indicators suggested that Bitcoin’s current price level of $57,500 is the first support that will contain another drop. If the asset drops below again, the next levels asset at $54,675 and $56,600. The alternative coins are on the roll in the past week and ETH was among the most notable performers which led to a break higher than $2000 for the first time in months. ETH also continued upwards and painted a new ATH of $2150.
The second-biggest cryptocurrency dropped by more than $100 and it is now standing at $2000. The rest of the top ten coins are in red as well. Binance Coin decreased below $340, ADA dropped by 4% to $1.20, Polkadot reached a new ATH but it is also down to $44. Ripple lost 7.5%, Uniswap lost 7%, THETA lost 5%. The situation with the mid-cap coins is similar. Harmony led to a drop of 11% and trades to $0.16. Bitcoin SV lost 10%, Fantom lost 10% as well, Holo lost 9% alongside Kusama. The cumulative market cap of all cryptocurrencies lost about $60 billion in one day and it is down to $1910 trillion.
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