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For the First Time Since March: BTC Dipped Below $40K, ETH Beneath $3K (Market Watch)

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Once again, the crypto market has seen notable losses, with BTC and ETH leading the way to multi-week lows.

BTCUSD. Source: TradingViewThe altcoins have not enjoyed the past several days, either. Most went through notable retracements yesterday, and the situation now is quite dire as well.

Ethereum dropped below $3,000 for the first time in three weeks. Although the second-largest crypto now lies above that particular line, it’s still down more than 4% on a daily scale. Binance Coin dipped beneath $400, but it now trades north of it. Ripple, Terra, Avalanche, Polkadot, Dogecoin, and Shiba Inu are down by up to 6%. So is Cardano, and ADA has dropped below $1.

Solana has lost the most from the larger-cap alts with a 7% daily decline. As such, SOL is slightly above $100. The landscape with the lower- and mid-cap altcoins is rather identical, and the total market cap is down by another $70 billion since yesterday. The metric has seen $300 billion evaporate in about a week.

 

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