Bitcoin Price Slumped Toward $60K, Aptos Tanks 9% Daily (Market Watch)

Bitcoin’s price troubles continued in the past 24 hours as the asset dropped toward $60,000 for the first time in about a week.

Most altcoins have followed suit, with ETH, BNB, SOL, XRP, DOGE, TON, and many others declining by about 2% daily.

BTC Slipped Toward $60K

The primary cryptocurrency bottomed last Thursday with a price slumped to just under $60,000. The bulls stepped up at this point and propelled an impressive rally that culminated on Monday morning with a surge to a multi-week peak of $64,500.

This came after a positive end to the previous business week and a rather quiet weekend. However, the asset couldn’t keep the momentum going at this point and started to lose value gradually.

By Tuesday and Wednesday, it had lost about three grand and struggled to remain above $62,000. The bears intensified the pressure earlier this morning when they drove bitcoin to a weekly low of $60,250.

As of now, BTC has managed to defend the coveted $60,000 level and sits close to $61,000. Still, it’s 2% down on the day, and its market cap has dumped to $1.2 trillion. Its dominance over the alts, though, stands tall at just over 54%.

Bitcoin/Price/Chart 10.10.2024. Source: TradingView

APT Dumps Hard

The altcoins have mimicked BTC’s performance in the past day, which means that red dominates the charts. The larger-cap alts, such as ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, LINK, and BCH, have produced losses of about 2%.

Shiba Inu and SUI have dropped by over 3%, while NEAR has slumped by almost 6%. WIF has dumped by a similar percentage, while APT has nosedived by 9% in a day. As a result, the asset now struggles below $8.4.

Uniswap’s native token is among the few exceptions in the green today. UNI has risen by almost 7% and trades above $7.6.

Nevertheless, the total crypto market cap is down by about $50 billion overnight and to $2.225 trillion on CG.