HASH and AAVE have declined the most over the past day.
Bitcoin tried to break out earlier this week but was halted at $72,000 and pushed south to a new local low of $65,500 on some exchanges for the first time since the start of the month.
Most larger-cap alts followed on the way south, with ETH dipping beneath $2,000, XRP testing the $1.30 resistance, and BNB going down to $610.
BTC’s New Local Low
After it was stopped at $76,000 in the previous week, bitcoin managed to remain sideways around $70,000 during that weekend before it dropped to $67,500 on Monday morning when most legacy financial spot and futures markets opened. However, it skyrocketed to nearly $72,000 later that day when Trump claimed the US and Iran had reached some sort of de-escalation deal.
Once Iran denied the statement, BTC quickly returned to $69,000, but shot up once again to $72,000 on Wednesday, which became a weekly high. The bears stepped up at this point and drove it south to $69,000 on Friday. They picked up the pace once again at this point and pushed it further down to a four-week low of $65,500 yesterday.
This meant that bitcoin had dropped by well over $6,000 in just 48 hours. Although it has rebounded to over $66,000 now, it’s still 6% down weekly. Its market cap is down to $1.325 trillion, while its dominance over the alts has slipped below 56% on CG.
SIREN on the Run Again
Despite the community scrutiny and warnings, the AI-linked altcoin SIREN continues to post enhanced volatility, and the past 24 hours were in the right direction. The token is up by over 100% and sits above $1.60 as of press time. Still, it’s more than 50% down from its $3.60 ATH marked earlier this week.
In contrast, AAVE and HASH have dropped by 5% and 9%, respectively, while most larger-cap alts have remained sluggish on a daily scale. After yesterday’s declines, ETH remains under $2,000, BNB is just north of $610, and XRP is well beneath $1.35. BCH and CC are among the few alts with gains of over 3%.
The total crypto market cap has shed around $60 billion since the Friday peak and is down to $2.370 trillion on CG.
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