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02/10 06:55

These Altcoins Continue to Lose as BTC Faces Rejec

These Altcoins Continue to Lose as BTC Faces Rejection at $100K

LINK and SUI are among the worst performers among larger-cap altcoins.

Bitcoin’s price woes continue as the asset was violently rejected at $100,000 yesterday and has fallen more than four thousand in a matter of hours.

However, many altcoins are in even worse shape, with huge double-digit losses on a weekly scale.

BTC Up and Down

It’s been a painful week for the leading cryptocurrency, which began the previous weekend with a price drop from $102,000 to $97,000 on Sunday morning after Trump imposed tariffs on China, Mexico, and Canada.  Things got worse on Monday morning with another dip below $92,000.

However, at that point the cryptocurrency surged and rose ten thousand in a few hours, surpassing $102,000. However, this did not last long, as it quickly lost six figures and headed towards $97,000.

After a few days of sideways movement around this line, BTC jumped to just over $100,000 on Friday. However, the bears quickly intercepted the move and did not allow any further gains. Moreover, the rejection was quite brutal, as it pushed Bitcoin down below $96,000.

Now the asset is struggling to regain this level, and its market cap is close to breaking below $1.9 trillion. However, its dominance over altcoins is quite large (around 59% according to CG), as most of them were hit harder.

 Alts in the Red Again

Altcoins have suffered even more than BTC, with many continuing to remain in the red. Ethereum has fallen 4% in the last day alone and is struggling to stay above $2,600. Chainlink, SUI, AVAX, ADA, and XMR are other large-cap altcoins that have seen significant losses, with declines of up to 7%.

DOGE, Bina, SOL, and HBAR are also in the red, albeit less painfully. XRP and TRX are among the few altcoins with small gains over the last day.

However, the total cryptocurrency market cap has lost another $80 billion since yesterday, falling to $3.250 trillion on CG.

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