Bitcoin's price has calmed over the past few days after ETF-induced volatility over the previous business week, but still fell below $42,000 as of Sunday evening.
Most alt coins followed suit with minor losses, with SOL continuing to struggle below $100 and ETH falling further to just over $2,500.
BTC slips below $42,000
The leading cryptocurrency faced massive volatility last week amid developments on the ETF front. From the hack against the SEC to controversial statements by Gary Gensler and finally the approval and launch of 11 such products in the US markets, all eyes were on Bitcoin.
BTC saw its price skyrocket on Thursday – the day products went live – to over $49,000 for the first time in almost two years. A few hours later, however, the asset fell sharply and lost more than seven thousand dollars in just over a day, and you can check the possible reasons here.
After hitting the 2024 low below $41,600, BTC rebounded and settled down to around $43,000. It spent most of the weekend there, save for two brief price drops below $42,000.
Currently, Bitcoin is trading below $43,000, with a struggling market cap of $835 billion. Its altcoin dominance has taken a significant beating over the past week and is down less than 50% on CMC.
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Most alt coins followed BTC south with minor losses. Ethereum, Cardano, Avalanche, Dogecoin and Polygon are all down around 1.5%. Further losses came from SOL and TRX, with declines of 2.5% each. As a result, SOL is struggling at $95, while TRX has fallen to $0.11.
In contrast, Binance Coin and Chainlink gained around 4% overnight. Therefore, BNB is trading above $315, while LINK is trading north of $15.
Toncoin has benefited the most from larger cap alts. TON is up 10% and sits at $2.3. INJ and APT are also in the green.
The total crypto market cap lost around $10 billion since yesterday and fell to $1.680 trillion on CMC.
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