Bitcoin's voyage above $40,000 didn't last long as the asset dumped to a six-week low shortly after. Dogecoin is also deep in the red.
BTC even challenged $41,000 yesterday, but to no avail – just the opposite. It failed to breach it, and the subsequent rejection drove it south hard. In a matter of hours, bitcoin lost all of its daily gains, but this time, it kept dumping.
As a result, the cryptocurrency fell below $38,000 for the first time since mid-March. It reacted somewhat positively to this drop and now sits around $1,000 higher. Nevertheless, its market capitalization has dumped below $750 billion.The altcoin market registered impressive gains yesterday, but, similar to bitcoin, it has turned red now.This is all you need not to miss any price action in the raging crypto markets.
Solana stands at $100, but it’s also slightly in the red. Ripple, Terra, Cardano, Polkadot, and Shiba Inu have all lost some traction as well. Dogecoin has dropped the most to below $0.15. However, it’s worth noting that DOGE spiked by double-digits when news broke that Twitter had accepted Elon Musk’s offer.
Overall, the crypto market cap has seen about $100 billion evaporate in a day and is down to $1.8 trillion.
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