Ripple’s XRP Joins Market Pullback as Bitcoin (BTC) Recovers From Sub-$112K Drop: Weekend Watch
Main Idea
Bitcoin and several altcoins experienced price declines, with BTC hitting a three-week low below $112,000, while the broader cryptocurrency market showed mixed performance with minor losses and gains among major altcoins.
Key Points
1. Bitcoin dropped to a three-week low below $112,000 after failing to challenge its all-time high and reacting to US Fed uncertainty.
2. ETH extended its decline away from $3,500, while SOL and DOGE dropped by around 1%.
3. XRP fell roughly 4% to under $2.9, joining other altcoins in negative territory.
4. The total cryptocurrency market cap dropped by almost $250 billion since Thursday, standing at $3.750 trillion.
5. Pi Network’s token rebounded slightly from its all-time low, gaining 4-5% to $0.36.
Description
Bitcoin’s ongoing correction took another turn for the worse hours ago when the asset slumped to a new multi-week low of under $112,000 before it recovered some ground. Many altcoins continue to trade indecisively, with ETH dropping further away from $3,500 and SOL close to breaking below $160. BTC Bounces Off $112K Bitcoin’s business week began on a relatively familiar note as it jumped toward $120,000 after it erased the losses charted at the end of the previous one. However, as it happened du...
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