Bitcoin Drops and Some Alts Up
Yesterday, Bitcoin experienced a sudden drop to $86,000 as shocking many traders who expected the price to continue rising but as we're used to in this market volatility is an essential part of the game, and Bitcoin was able to quickly recover by more than $1,000 and begin to regain some of its strength.
At the same time, altcoins weren't as lucky as Bitcoin. We saw daily losses in major coins like XRP, SOL, and DOGE, confirming that the altcoin market is still sensitive to any Bitcoin shock. However, the opposite happened with TON, which bucked the trend and achieved gains of up to 7% in 24 hours, demonstrating that some coins have their own momentum regardless of the main market movement.
If we go back just one week, we find that Bitcoin surpassed $87,500. This occurred after the Federal Reserve meeting, which had a positive impact on the market, and also after the conclusion of the Ripple case, which had been a source of pressure. However and a rapid correction followed and the price fell to $83,000, confirming that the upward trend isn't always a straight line but that there are necessary corrections along the way.
Last week, the price stabilized at $84,000 during the weekend, before a strong recovery occurred on Sunday evening and Monday, reaching its highest level in more than two weeks at $88,800. The question now is: Will this recovery continue? Or is it merely a temporary rebound before a deeper correction? The market is always full of surprises, and those following it must be prepared for all scenarios.
