Bitcoin Price Drops To $19,500, Altcoins Continue Bleeding (Market Watch)
The cryptocurrency market continues to struggle, with total capital down another $50 billion in the last 24 hours.
That’s because Bitcoin’s price has plummeted to a daily low of around $19,500, and other cryptocurrencies are feeling the heat.
Bitcoin continues to struggle
Bitcoin has fallen another 1% from its dollar value over the past 24 hours, to a low of around $19,520 (on Binance).
As seen in the chart above, the price has now recovered to around $19,900, but the cryptocurrency is still up around 6.5% over the past week.
However, it is also worth noting that BTC’s dominance (a metric commonly used to measure performance relative to the rest of the market) has increased slightly over the past 24 hours. has performed better than altcoins.
Altcoin slow read
The altcoin market is currently on a downward trend for several days in a row. This, along with Bitcoin’s decline, has seen its market capitalization drop below $1 trillion and currently hover at around $950 billion.
Over the past 24 hours, altcoins have fallen slightly and failed to recover from last week’s decline.
As seen in the heatmap above, Ethereum is down around 3% and is trading around $1450. ADA is down 3.7%, similar to XRP. BNB is also down almost 1%. AVAX is one of the biggest losers of the past day, down over 10%.
Overall, not many cryptocurrencies are doing well, with LTC leading the charts with just a 2% gain.
The cryptocurrency market has once again fallen into a state of extreme fear. The exponent is now 24.
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cryptocurrency chart By TradingView.
https://cryptopotato.com/bitcoin-price-dips-to-19500-while-altcoins-continue-to-bleed-out-market-watch/ Bitcoin Price Drops To $19,500, Altcoins Continue Bleeding (Market Watch)
