Bitcoin Slumps Below Previous ATH: ETH Reached $2550 (Market Watch)

After nearing $64,000, bitcoin’s price has plummeted by about $3,000 in a matter of minutes and tested $61,000. Most altcoins have followed along south with the apparent exception of Dogecoin. DOGE has painted a new all-time high at $0.3 after a triple-digit price surge.

Bitcoin Falls by $3K

The primary cryptocurrency had a mainly bullish week in which it finally overcame $60,000 and went on to register consecutive all-time highs. Following the latest one at just shy of $65,000, however, the asset reversed its price trajectory.

As reported yesterday, BTC dipped to an intraday low beneath $61,500. The cryptocurrency bounced off initially and spiked to nearly $64,000 hours ago.

However, the situation has reversed since then, and BTC slumped by roughly $3,000. As such, bitcoin dipped to $61,000 but has recovered some ground and currently stands at $61,500.

Furthermore, the asset’s market dominance keeps registering new lows. After breaking below 53% yesterday, the metric comparing bitcoin’s market capitalization with all other cryptocurrency assets has declined even more to just north of 52%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Larger-Cap Alts in Red But Not DOGE

Most of the largest cap altcoins also enjoyed the past several days with new all-time highs. Such was the case with Ethereum, which skyrocketed to roughly $2,550 for its latest record in the past 24 hours. However, similarly to its leader, ETH has declined steeply by more than $140 and currently sits around $2,400.

Despite intraday pumps, Binance Coin, Ripple, Cardano, Polkadot, and Uniswap are also well in the red. On the other hand, Litecoin (4%) and Chainlink are slightly in the green.

However, Dogecoin is once again the most spectacular performer. Everyone’s favorite meme coin skyrocketed by more than 100% earlier today and touched $0.3 for a new all-time high. Despite retracing to $0.25 in the following hours, DOGE has reaffirmed its spot in the top ten and is currently the 8th largest crypto by market cap.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

More gains come from Ethereum Classic (36%), Horizen (30%), Curve DAO Token (26%), Chiliz (26%), Maker (22%), Neo (14%), Qtum (13%), and Bitcoin Cash (12%).

Although some coins have marked substantial losses as well, such as KuCoin Shares (-15%), WazirX (-14%), THORChain (13%), Klaytn (-13%), and more, the total crypto market cap has remained above $2.2 trillion.


Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

editorial staff

Leave a Reply

Your email address will not be published. Required fields are marked *