XRP, TON Defy Market Correction as BTC, Alts Continue to Melt Down: Weekend Watch
Main Idea
The cryptocurrency market experienced significant declines, with Bitcoin and major altcoins dropping to multi-week lows, resulting in a $250 billion loss in total market cap over a few days.
Key Points
1. Bitcoin slid to under $115,000 amid substantial sell-offs by Galaxy Digital on behalf of a client, later reacting to the FOMC meeting and US GDP data with price volatility.
2. The total crypto market cap dropped by nearly $250 billion, reaching $2.260 trillion, with Bitcoin's dominance at 60%.
3. Ethereum (ETH) fell below $3,500, Solana (SOL) below $165, and other altcoins like DOGE, BCH, and HBAR saw significant declines.
4. Pi Network’s native token hit an all-time low, while ENA plunged by 7%, though XRP and LTC were slightly positive.
5. The total crypto market cap on CoinGecko (CG) dropped to $3.750 trillion, reflecting a $250 billion loss from its recent peak.
Description
Bitcoin’s adverse price movements that started on Thursday continued in the past 24 hours, with the asset sliding to a new multi-week low of under $113,000. With multiple altcoins in the red as well, including a new all-time low for Pi, it’s no wonder that the total crypto market cap has dumped by nearly $250 billion in a few days. BTC Keeps Dropping The primary cryptocurrency experienced a brief retracement at the end of the previous business week when it dipped from $119,000 to under $115,000 ...
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