MARKET UPDATE Bitcoin Price Dumped $2K as Crypto Market | ⚡️ ALTUS.FINANCE ⚡️

MARKET UPDATE

Bitcoin Price Dumped $2K as Crypto Market Cap Loses $100B


After unsuccessfully trying to break above $35,000, bitcoin reversed its trajectory once more and dumped by over $2,000 in hours. Most alternative coins are also well in red, with the total market cap losing $100 billion since yesterday’s high.

Just a few days ago, during the weekend, the primary cryptocurrency took a swing at $36,000, but it failed and retraced to around $33,000. It went up once more in the following days to approximately $35,000, but more negative information coming from China brought it down by a few thousand dollars again.

The situation with the alternative coins is similar to a large extent. Ethereum was among the best performers lately, especially after confirmation that the London hard fork will occur in early August. The second-largest crypto pumped to a 3-week high at well over $2,300.

Binance Coin has retraced by 5% and is down to $320. Cardano (-4%), Ripple (-5.5%), Polkadot (-5.5%) Bitcoin Cash (-5.5%), and Litecoin (-5.5%) have all gone down by a similar percentage.

Interestingly, Flow (33%), Stacks (19%), and BakeryToken (11%) have charted impressive gains in this bloody day. Most other lower- and mid-cap altcoins are deep in red as well.

KuCoin Token, which was riding high for several consecutive days, is down by 21% since yesterday. SushiSwap (-13%), Compound (-12%), Synthetix (-12%), Avalanche (-11%), Telcoin (-10%), THORChain (-10%), Horizen (-10%), and PancakeSwap (-10%) complete the double digit price dump club. Ultimately, the cumulative market capitalization saw $100 billion evaporated from yesterday’s high at one point.


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