Bitcoin
Bitcoin Slides Towards $60K as Altcoins Bleed (Weekend Watch)
Cryptocurrency markets are in decline today with relatively low trading volumes. Bitcoin is falling towards $60K, and most altcoins are slowly disappearing.
Total capitalization fell to $2.37 trillion.
Bitcoin Price Drops to $60K
Bitcoin’s price is trading down 1.3% over the past 24 hours, bringing its total losses to around 6% for the week.
At the time of writing, the leading cryptocurrency was falling towards $60,000 as overall trading volume was relatively low.
In the last 24 hours there have been a total of $100 million worth of liquidations, with BTC leading the way (as almost always) with $37 million.
Altcoins are bleeding
Many large-cap altcoins are also seeing small declines. For example, ETH is down 1.8% on the day, BNB – 1.6%, SOL – 2.5%, TON – 1.7%, and so on.
Others fell considerably, like UNI, which fell 6%.
Meme coins – an interesting category in the cryptocurrency market – also recorded similar losses. The group as a whole is down more than 3% in the last 24 hours, with DOGE and SHIB down 1.3%.
PEPE fell 5.2%, while BON fell 3%.
Overall, the worst performer today was Lido’s LDO governance token, which lost 15%. Ethena’s ENA dropped 9.2%, followed by Starknet’s STRK, which dropped 6.4%.
At the other end of the spectrum, the best performer is Quant’s QNT token, which soared 10% on the day. Arweave’s AR is second best with a 4% increase.
That said, overall trading volumes fell to around $67 billion during the previous day, which is to be expected given that it is the weekend. However, it will be interesting to see how this relatively narrow range will resolve itself and whether or not the bulls will take a stand or if the correction will deepen.
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