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The rejection that came at $98,000 on Friday brought some more pain for bitcoin, as its price dropped to a multi-day low of under $96,000 earlier today.
Most altcoins are also in the red on a daily scale, led by a substantial price decline from SUI of 5% that has pushed it down to $3.2.
BTC Slips Beneath $96K
The primary cryptocurrency spiked above $90,000 last Tuesday and hasn’t looked back. It kept climbing in the following days to a local peak of $96,000 reached on April 25. Consolidation ensued for the next week or so as BTC remained stuck in a tight range between $93,000 and $95,000.
The lower boundary was tested on a couple of occasions, but it helped maintain BTC’s price. The last unsuccessful attempt was on Wednesday, after which the cryptocurrency went on the offensive and broke above the upper boundary.
This resulted in a price surge to $97,500 on Thursday and to $98,000 on Friday. The latter became the asset’s highest price point in over two months. However, it failed to breach that level and challenge $100,000 as the bears pushed it south by over two grand despite some positive on-chain developments that suggest another rally is around the corner.
As of now, BTC struggles below $96,000 after a minor daily correction. Its market cap has dropped to $1.9 trillion on CG, while its dominance over the alts is up to 61.7%.
TRUMP Keeps Dumping
As mentioned above, most alts are slightly in the red today. XRP, BNB, SOL, DOGE, ADA, TRX, and LINK have lost traction with price declines of up to 3%.
SUI and AVAX lead the adverse trend, with price drops of 5.6% and 4.2%, respectively. Consequently, SUI is down to $3.22, while AVAX struggles to remain above $20.
TRUMP has plunged once again in the past 24 hours, losing roughly 14% of value. There’s a lot of controversy around the project, especially after the dinner invitation, which you can check here.
The total crypto market cap has shed around $25 billion since yesterday and is down to $3.075 trillion on CG.
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Cryptocurrency charts by TradingView.
