After breaking below $20,000 yesterday, bitcoin kept nosediving and dipped to a 9-day low of just over $19,000. The altcoins seem quite stagnant on a daily scale, with ApeCoin being among the few exceptions with a 6% increase.
Bitcoin saw another low
The past week has unfolded positively for the main cryptocurrency, which reached nearly $22,500 to mark a three-week high. However, this advance was short-lived and the asset started to retrace soon after.
Once the weekend came, bitcoin had calmed in a range between $21,000 and $22,000 and spent most of it there as the trading volume was missing.
On Monday, however, BTC began losing value rapidly and came within inches of dropping below $20,000. While the bulls initially defended this price, the asset eventually fell below on Tuesday.
The past 24 hours brought a bit more pain as bitcoin slipped to $19,200, which is a new 9-day low. As of now, though, it has recovered some ground and stands close to $20,000. Its market cap is back at $375 billion, while its dominance over the alts is just under 43%.
Notable Bitcoin News
Glassnode’s latest weekly report suggests bitcoin may not have bottomed yet.
Numerous BTC miners based in Texas said they will pause their operations due to extreme weather conditions.
Altcoins Stall, Ape Soars
Alternative coins have also fallen in recent days, but have calmed down on a daily basis.
Ethereum stood above $1,250 at a multi-week high of its own last week but lost $200 in days. As of now, the second-largest crypto trades at just over $1,050.
BNB fell from over $240 to under $220 in the same time frame, but a slight daily increase pushed the asset to $226 as of now.
Ripple, Solana, Polkadot, Tron, Shiba Inu, and LEO are also slightly in the green today. Cardano and Dogecoin, on the other hand, have charted insignificant declines.
Most low- and mid-cap alts are also fairly quiet. ApeCoin is among the few impressive gainers with a daily increase of 6%. Therefore, APE is trading just over $4.5.
Industry News
The European Central Bank released guidance, proposing a ban on crypto mining and enhanced regulations on stablecoins.
3AC co-founder Zhu Su broke his silence and called the recent court filing “disappointing”.
Uniswap users were targeted in a phishing attack that resulted in over $8 million in ETH stolen.
