In short: Bitcoin's struggles persist as it experiences a third-day price slide, dropping to almost $27,000, with most altcoins also suffering losses. While Lido DAO and Bitcoin Cash saw gains of around 7%, Ethereum and Binance Coin both saw declines. As a result, the overall cryptocurrency market cap has decreased to $1.140 trillion.
Our quick analysis:
Bitcoin and some altcoins faced another day of market turbulence on Monday. Bitcoin was unable to hold onto its recent gains and its price slid down to almost $27,000. Other altcoins such as MATIC, SOL, DOGE, and LTC also suffered losses. However, LDO and BCH were among the few that experienced a sudden increase in their values.
Bitcoin's recent upswing was short-lived as it failed to break past the $30,000 level, leading to bears taking control of the market. Bitcoin's market capitalization also took a hit, sliding down to $535 billion. Despite a minor recovery, Bitcoin remains more than 1% down on the day.
Not only did Bitcoin suffer, but so did other altcoins, with Ethereum, Binance Coin, XRP, DOGE, MATIC, SOL, and LTC all experiencing losses of up to 5% in a day. However, Bitcoin Cash and Lido DAO went against this downward trend, experiencing increases of approximately 7%.
The total crypto market cap has experienced declines once again and now stands at $1.14 trillion on CMC, down from over $1.2 trillion just a few days ago.
Investors are keeping a watchful eye on the market, hoping for some level of stability in the coming days. It will be interesting to see how Bitcoin and altcoins perform in the next few days, and whether they will continue to defy market sentiment.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Our quick analysis:
Bitcoin and some altcoins faced another day of market turbulence on Monday. Bitcoin was unable to hold onto its recent gains and its price slid down to almost $27,000. Other altcoins such as MATIC, SOL, DOGE, and LTC also suffered losses. However, LDO and BCH were among the few that experienced a sudden increase in their values.
Bitcoin's recent upswing was short-lived as it failed to break past the $30,000 level, leading to bears taking control of the market. Bitcoin's market capitalization also took a hit, sliding down to $535 billion. Despite a minor recovery, Bitcoin remains more than 1% down on the day.
Not only did Bitcoin suffer, but so did other altcoins, with Ethereum, Binance Coin, XRP, DOGE, MATIC, SOL, and LTC all experiencing losses of up to 5% in a day. However, Bitcoin Cash and Lido DAO went against this downward trend, experiencing increases of approximately 7%.
The total crypto market cap has experienced declines once again and now stands at $1.14 trillion on CMC, down from over $1.2 trillion just a few days ago.
Investors are keeping a watchful eye on the market, hoping for some level of stability in the coming days. It will be interesting to see how Bitcoin and altcoins perform in the next few days, and whether they will continue to defy market sentiment.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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Please, behave!