Bitcoin’s adventure above $32,000 was short-lived as the asset fell by a few thousand dollars and dipped below $30,000. The altcoins are also covered in red today, with ETH sliding to $1,800 and SOL dumping hard following the latest network issues.After weeks of being unable to overcome $30,000 decisively, bitcoin finally did so a few days ago when it spiked to a.
In a matter of hours, BTC slumped by nearly $3,000 and dropped to just over $29,000. Somewhat expectedly, this enhanced volatility caused massive pain for over-leveraged traders, as the liquidations were above $500 million at one point. As of now, the cryptocurrency has regained some traction and stands close to the coveted $30,000 line. Nevertheless, its market capitalization has declined to well below $600 billion, but its dominance over the altcoins sits north of 46%.The altcoins followed BTC on its way up, but most have turned red today with substantial losses. Ethereum leads this adverse trend with a 5.5% daily decline.
However, the most substantial loser now is Solana. SOL has plummeted by over 11% on a 24-hour scale following the latest network issues thatWith the lower- and mid-cap alts also in the red, it’s no surprise that the overall crypto market cap is down by $70 billion to below $1.250 trillion.