BTC Tumbles to 25-Day Low as APT, OKB Slump 10%: Weekend Watch
Bitcoin’s nosedives continued in the past 24 hours, with the cryptocurrency falling to its lowest position in April of $27,000.
Most altcoins have suffered even more. Dogecoin keeps plunging hard, while APT and OKB have dumped the most from the mid-cap alts.
Bitcoin’s April Low
The primary cryptocurrency went on a roll on April 10 when it skyrocketed to and beyond $30,000 for the first time since last June. It went on to chart its highest price point at just over $31,000 later that week on April 14.
The following week was less volatile, with BTC maintaining $30,000 for most of it. However, the landscape changed on April 19 when the asset plummeted to $29,000 in hours. The situation worsened in the next few days, with BTC first dumping to $28,000 before going all the way down to $27,100 earlier today.
The latter became the asset’s lowest price position since March 28. As of now, bitcoin still trades inches above $27,000, and it’s 3% down on the day and over 10% weekly. Its market capitalization has declined to under $530 billion after tapping $600 billion days ago. Its dominance over the alts, though, has taken a breather and is close to 46%.
APT, OKB, DOGE Drop Hard
As it typically happens when BTC heads south, so do most alternative coins. Ethereum is a prime example. The second-largest crypto stood above $2,100 less than a week ago after the completion of the Shapella update. Since then, though, it has lost over $250 and now trades at $1,850 after losing 4% on a daily scale.
Similar drops are evident from Binance Coin, Ripple, Cardano, Polygon, Solana, Polkadot, Litecoin, and Shiba Inu. Dogecoin has dumped the most from the top 10 alts, with a 7% decline. As a result, DOGE currently sits beneath $0.08.
Further losses come from Avalanche (-7%), Chainlink (-6%), ICP (-6%), FIL (-6%), GRT (-7%), and others. Aptos and OKB have plummeted the most – by over 9% each to $10 and $48, respectively.
The crypto market cap has seen another $30 billion gone and is down to $1.150 trillion. The metric has lost over $130 billion in the past few days.
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OhNoRipple via https://www.ohnocrypto.com/ @Jordan Lyanchev, @Khareem Sudlow