Bitcoin price drops below $102K and general bleeding in altcoins!
The past 24 hours have seen a significant drop in the price of Bitcoin, as it lost the $105,000 level and fell by about $3,000.
Last week was very promising for Bitcoin, as the price of the currency maintained a level above $100,000 supported by the momentum generated by the “Trump” digital currency.
However, the situation changed during the Monday morning trading session, as the price of the currency dropped from $106,000 to below $100,000 before the currency recovered to a new all-time high of $109,000.
Bitcoin then fell after Trump’s inauguration speech, which disappointed investors by not mentioning cryptocurrencies, leading to a new decline of $102,000, while the market cap remained above $2 trillion with a 55% market dominance.
Altcoins plunge into the red:
The decline extended to altcoins, with most altcoins recording losses over the past 24 hours:
Ethereum fell 2.6%, approaching the $3,200 barrier, while Solana fell below $250.
Dogecoin and Cardano lost more than 3%, with DOGE recording $0.35, while ADA fell below $1.
Other coins such as AVAX, SUI, and XLM also fell, in addition to medium-value coins such as PEPE, AAVE, VET, and CRO.
The total market cap of all cryptocurrencies fell by more than $100 billion to $3.64 trillion.
