After an unsuccessful attempt to go above $ 64,000, bitcoin again fell below $ 60,000. While most alternative coins are also in the red, Shiba Inu has gone on another tear with a massive double-digit price surge.
Bitcoin drops below $ 60,000
After last week’s historic high of $ 67,000, bitcoin began to gradually decline and fell below $ 60,000 several times in the following days. Following the weekend’s drop, though, the situation changed, and BTC climbed to and above $63,000.
This is also where the cryptocurrency was yesterday before it fell unsuccessfully to $ 64,000. The inability to continue upwards, though, changed the tides.
Bitcoin lost a few thousand dollars in the hours that followed and was just over $ 61,000. However, it dumped by more than $3,000 minutes ago to its lower price level since October 15th at $58,000.
Right now he’s made around $ 1,000, but still sits well below $ 60,000. This enhanced volatility has caused a large number of liquidations for leverage traders. Bybt data shows 24-hour liquidations topped over $ 750 million.
Altcoins See Red: Not Shiba Inu and Aave
Similarly to BTC, most alternative coins also dumped hard. Ethereum slipped below $ 4,000 after falling within inches of a new all-time high a few hours ago. However, ETH has so far been unable to break its previous record, and the subsequent rejections have driven it south hard.
Binance Coin, Polkadot, and Chainlink are the only other coins in the top ten with single-digit price drops. In contrast, Cardano, Solana, Ripple, Dogecoin, Terra, and Avalanche all lost double-digit percentages on a 24-hour scale.
Yet, there’re a few obvious exceptions. Shiba Inu has surged by another 20% in a day to above $0.00051. In addition, SHIB’s gains were well over 30% just hours ago, before the general market crash. Consequently, the meme token charted a new all-time high – again.
The other is Aave, which also jumped 20% on a 24-hour scale and currently sits above $ 400.
More losses come from Fantom (-20%), ICP (-18%), EOS (-18%), Harmony (-17%), Curve DAO Token (-17%), Filecoin (-16%), Ethereum Classic (-16%), Elrond (-16%), THORChain (-15%), and many more.
The cryptocurrency’s market cap has lost nearly $ 200 billion from yesterday’s high to today’s low and is now just over $ 2.4 trillion.
