BitcoinBTCThis week, ), moved down after another failed attempt at breaking above $72,000. This decline pulled down the entire crypto market, but a few tokens went against this trend.
You can read more about it here:
- Bitcoin dropped from $72,000 down to $65,500 within 48 hours, as buyers regained the control of exchanges.
- Ethereum fell below $2,000; BNB held at $610 and XRP was below $1.35 despite weakness.
- SIREN rose over 100% in a single day, despite the fact that crypto markets lost $60 billion.
Bitcoin begins the week under pressure After it failed to break higher resistance levels. Assets had lost their momentum in previous weeks near $76,000. They then traded at around $70,000 on the weekend, before dropping to $67,000 as the traditional markets opened again.
Bitcoin rose to close to $72,000 later that same day after US President Donald Trump announced the United States had agreed on a deal with Iran. The move was not sustained. Bitcoin fell to $69,000 after Iran’s rejection of the statement.
Bitcoin hit a new weekly high of $72,000 on Wednesday. Sellers took control again and drove the asset down to $69,000 on Friday. Bitcoin fell further into the weekend. On some exchanges it reached $65,500, its lowest point since March.
Bitcoin dropped by $6,000 over the next 48 hours. The asset was trading above $66,000 at the time we reported, although it had a loss of 6% for the week. The market cap dropped from $1.325 billion to $56%.
Large-cap altcoins track Bitcoin lower
Most altcoins with large market caps also fell during this period. Ethereum Binance Coin fell just below $2,000 and traded above $610. XRP After testing the resistance at $1.30 in early week, prices remained under $1.35.
This added further pressure on the market. The total crypto market fell about $60 billion since Friday’s high and now stands at around $2.37 trillion. This shows that the risk appetite in this sector is still low.
However, SIREN was one of the few tokens to post a sharp gain during the latest market drop. At the time of publication, this AI token had risen more than 100 percent in just 24 hours. It is still over 50% lower than its previous all-time record of $3.60, which was reached this week.
The picture was mixed for other altcoins. AAVE dropped by 5% while HASH fell by 9%. Bitcoin Cash and CC both posted gains in excess of 3%. This made them the rare movers of higher prices as much of the market remained under pressure.
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Source: crypto.news
