Crypto Markets Shed $140 Billion as Bitcoin (BTC) Dumps by $4K After Latest Peak (Market Watch)
Release: 2024/12/18 18:19 Reading: 867
Following several consecutive days of gains and charting new peaks, Bitcoin has finally retraced, dropping over $4,000 in the past 12 hours.
Altcoins have followed suit, with notable price drops from ETH, DOGE, ADA, TRX, AVAX, and more.
BTC Falls by $4K
BTC rebounded from its low of $94,400 last weekend, culminating in a surge that pushed it above $100,000 on Thursday. It remained within six-digit territory since then.
After a quiet weekend around $101,500, BTC rallied on Monday and again on Tuesday, reaching $106,500 and $108,000, respectively.
However, after gaining roughly $14,000 within a week, BTC was due for a correction. In the past 12 hours, it dumped over $4,000 and now trades just above $104,000.
Its market capitalization stands at $2.060 trillion, with its dominance over altcoins remaining at 54%.
Alts in Retracement
As BTC moves, the altcoins usually follow. Ethereum has declined 4% to $3,850, XRP has slipped 2.5% to $2.52, and SOL has dropped to $216.
Significant losses have been seen in ADA, TRX, AVAX, SHIB, TON, SUI, XLM, DOT, and APT, with price drops of up to 9%. PEPE has also struggled, currently below $0.0000215.
The cumulative market capitalization of all crypto assets reached nearly $4 trillion yesterday but has since shed $150 billion, now at $3.850 trillion.
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