Bitcoin’s nosedives continued over the past 24 hours, with the cryptocurrency plunging to its lowest position in April of $27,000.
Most altcoins have suffered even more. Dogecoin continues to fall sharply, while APT and OKB have dumped the most of mid-cap alternatives.
Bitcoin’s April Low
The top cryptocurrency went live on April 10 when it spiked to $30,000 and above for the first time since last June. It went on to record its highest price point at just over $31,000 later that week on April 14.
The following week was less volatile, with BTC holding $30,000 for most of it. However, the picture changed on April 19 when the asset plunged to $29,000 in hours. The situation worsened in the following days, with BTC first unloading to $28,000 before dipping as low as $27,100 earlier today.
The latter became the asset’s lowest price position since March 28. As of now, bitcoin is still trading inches above $27,000, and is down 3% on the day and more than 10% weekly. Its market capitalization has declined to less than $530 billion after touching $600 billion days ago. However, its dominance over alts has taken a breather and is close to 46%.
BTCUSD. Source: TradingView
APT, OKB, DOGE Drop hard
As is often the case when BTC heads south, so do most altcoins. Ethereum is a prime example. The second largest crypto topped $2,100 less than a week ago after the completion of the Shapella upgrade. However, it has since lost over $250 and is now trading at $1,850 after losing 4% on a daily basis.
Similar drops are evident in Binance Coin, Ripple, Cardano, Polygon, Solana, Polkadot, Litecoin, and Shiba Inu. Dogecoin has dumped the lion’s share of the top 10 alternatives, down 7%. As a result, DOGE currently sits below $0.08.
Other losses come from Avalanche (-7%), Chainlink (-6%), ICP (-6%), FIL (-6%), GRT (-7%), and others. Aptos and OKB have plummeted the most: more than 9% each, to $10 and $48, respectively.
The crypto market capitalization has lost another $30 billion and is down to $1.150 trillion. The metric has lost more than $130 billion in the past few days.
Overview of the cryptocurrency market. Source: quantify crypto
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TradingView cryptocurrency charts.
This post BTC Drops to 25-Day Low as APT, OKB Slump 10%: Weekend Watch
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