Bitcoin went to $28,000 yesterday, but the immediate rejection pushed it back down to $27,000 to chart a nearly one-month low.
The alternative coins are in no better shape, either, with some, such as ARB and FXS, dumping by over 25% on a weekly scale.A lot can change in the cryptocurrency markets in the span of a few weeks. 10 days ago, bitcoin stood above $30,000 and even challenged $31,000 to mark its highest price point since June last year. However, the bears stepped up at that point and reversed the asset’s trajectory.
BTC fell below $30,000 days later and began losing value rapidly last week. This resulted in dropping to $27,500 by Friday and Saturday. After a few days ofThe rejection brought it south by a grand, and bitcoin registered its lowest price position in almost a month at $27,000. It has recovered some ground since then and has maintained that level, but it’s still 8% down weekly.This is all you need not to miss any price action in the raging crypto markets.
Most of the larger-cap alts are in the red on a daily scale. This includes Ripple, Cardano, Dogecoin, Solana, Polkadot, and Shiba Inu. Polygon has dropped the most and is down below $1.On a weekly scale, the situation with Arbitrum and Frax Share is the most painful. Both assets have declined by over 25% to $1.3 and under $8, respectively.Cryptocurrency Market Overview. Source: Quantify Crypto
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