Monday starts off on a similar note to the entire weekend, with BTC still around $30,000.
Altcoins turned red today with AVAX, LTC, LDO, SOL, TRX and others dropping as much as 6%. PEPE decreased by more than 7% in one day.
Will BTC lose $30,000?
After a relatively calm week, which saw a few attempts by BTC to break above $31,000, the asset saw heightened volatility on Friday. This came as it hit $31,500 to record its highest price in 13 months, but the bears were watching closely and acting quickly.
They took over the market and pushed the cryptocurrency south hard. As a result, bitcoin fell to $29,700 a few hours later (on Bitstamp).
However, the asset managed to rebound quite quickly and recovered $30,000 by the time of the weekend. As usually happens on Saturday and Sunday, trading volumes declined and BTC remained stuck just above this level.
So far, Monday has been mostly similar, with bitcoin trading barely above $30,000. Its market cap is still below $590 billion, but its alts dominance has reached 50% on CMC.
PEPE down 7%
ETH has mimicked BTC’s performance over the past 24 hours and is down less than 1%. As a result, the second largest cryptocurrency is struggling at $1,850. Ripple’s situation is similar and a 0.5% decline pushed XRP to $0.47.
However, most of the other larger cap alts fell harder. BNB, ADA, DOGE, DOT, MATIC and BCH all lost between 1% and 2% in one day, while SOL, TRX, LTC and AVAX fell as much as 5%.
PEPE fell the most among the top 100 alts. The coin meme is down more than 7%.
On the other hand, COMP, one of the few alternative coins with gains today, climbed 10% and sits near $60.
The total crypto market cap lost $20 billion a day and fell to $1.170 trillion on CMC.
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