Bitcoin’s price struggles continue as the asset was violently rejected at $100,000 yesterday and pushed south by over four grand in hours.
Nevertheless, many altcoins are in even worse condition, with massive double-digit losses on a weekly scale.
It was a painful week for the primary cryptocurrency, which started during the previous weekend with a price slump from $102,000 to $97,000 on Sunday morning after Trump’s tariffs against China, Mexico, and Canada. The situation worsened on Monday morning with another nosedive to under $92,000.
However, the cryptocurrency exploded out of the blue at this point and added ten grand within hours to spike above $102,000. That was short-lived, though, as it quickly lost the six-digit price tag and headed toward $97,000.
After a few days of sideways action around that line, BTC jumped to just over $100,000 on Friday. Yet, the bears were quick to intercept the move and didn’t allow a further increase. Moreover, the rejection was quite brutal as it pushed bitcoin south to under $96,000.
The asset now struggles to reclaim that level, and its market capitalization is close to breaking below $1.9 trillion. Its dominance over the alts, though, is quite high (close to 59% on CG), as most of them have been hit harder.
The alternative coins suffered even more than BTC, and many continue to be well in the red. Ethereum has dumped by 4% over the past day alone and struggles to remain above $2,600. Chainlink, SUI, AVAX, ADA, and XMR are the other substantial price losers from the larger-cap alts, with declines of up to 7%.
DOGE, BNB, SOL, and HBAR are also in the red, albeit in a less painful manner. XRP and TRX are among the few alts with minor gains over the past day.
Nevertheless, the total crypto market cap has shed another $80 billion since yesterday and is down to $3.250 trillion on CG.
The post These Altcoins Extend Losses as BTC Faced Rejection at $100K (Weekend Watch) appeared first on CryptoPotato.
