CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$28,065.00
  • ethereum
    ETH$1,903.35
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Market Updates » Arbitrum Down 25% Weekly, Bitcoin Slipped to Monthly Low: Market Watch

    Arbitrum Down 25% Weekly, Bitcoin Slipped to Monthly Low: Market Watch

    Author: Jordan Lyanchev

    Last Updated Apr 26, 2023 @ 08:47

    Polygon’s 3% daily decline has pushed it to under $1.

    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.

    Bitcoin’s New Local Low

    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 of trading sideways, BTC attempted a price pump to $28,000 but was stopped after tapping that line.

    The 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.

    Alicia Bakery
    CMO - A really good agency

    Did you like this market update?
    This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:

    Invalid email address
    Your privacy is guranteed.
    Thanks for subscribing, you will get your first report in the next hours!

    Its market capitalization has stalled at $530 billion, while its dominance over the altcoins is at 46%.

    BTCUSD. Source: TradingView
    BTCUSD. Source: TradingView

    ARB, FXS Dump Hard Weekly

    The alternative coins also traded a lot higher a few weeks back but have lost most of that momentum. ETH, for example, went to over $2,100 after the Shapella update completion but has since lost roughly $300. As a result, the second-largest cryptocurrency struggles to remain above $1,800 as of now.

    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 (3%) and is down below $1.

    Avalanche is among the few alts in the green, gaining 3% on the day and jumping to $17.

    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.

    The total crypto market cap has remained relatively still at $1.150 trillion.

    Cryptocurrency Market Overview. Source: Quantify Crypto
    Cryptocurrency Market Overview. Source: Quantify Crypto
    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

  • bitcoin
    BTC$28,065.00
  • ethereum
    ETH$1,903.35
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    The Weaknesses of Ethereum VS Modern Blockchains: Interview With Radix

    The Weaknesses of Ethereum VS Modern Blockchains: Interview With Radix

    Institutions Intend to Buy Bitcoin in Late 2023: Interview With CryptoQuant

    Institutions Intend to Buy Bitcoin in Late 2023: Interview With CryptoQuant

    Why Didn’t ETH Dump After Shanghai? Interview With Nansen

    Why Didn’t ETH Dump After Shanghai? Interview With Nansen

    What is PEPE Coin? Is This the Next Huge Memecoin?

    What is PEPE Coin? Is This the Next Huge Memecoin?

    What is the Ethereum Shanghai (Shapella) Upgrade? Everything You Need to Know

    What is the Ethereum Shanghai (Shapella) Upgrade? Everything You Need to Know

    15 Months Later, What Changed Since November 2021? Interview With Phantom Wallet CEO

    15 Months Later, What Changed Since November 2021? Interview With Phantom Wallet CEO

    Artificial Intelligence & Crypto Guide: Here Are the Top 5 AI Coins

    Artificial Intelligence & Crypto Guide: Here Are the Top 5 AI Coins

    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top