The cryptocurrency market continues to struggle, with its total capitalization shedding another $50 billion over the past 24 hours.
This comes as Bitcoin’s price plunged to a daily low of around $19,500, and other cryptocurrencies also feeling the heat.
Bitcoin Continues to Struggle
Bitcoin shed another percent off its dollar value in the past 24 hours and dropped to a low of around $19,520 (on Binance).
As seen in the chart above, the price has now recovered to about $19,900, but the cryptocurrency is still done some 6.5% in the past week.
It’s also worth noting, though, that BTC’s dominance – the metric commonly used to gauge its performance relative to that of the rest of the market – increased a bit in the past 24 hours.
Slow Bleed for Altcoins
The altcoin market continues to bleed out for a few days in a row now. This, alongside Bitcoin’s decline, led to the total market capitalization dropping below $1 trillion and currently sitting at around $950 billion.
Over the past 24 hours, the altcoins charted slight decreases, failing to recover from last week’s drops.
As seen in the heatmap above, Ethereum is down almost 3%, trading at around $1450. ADA is down 3.7%, as well as XRP. BNB is also down almost 1%. AVAX is amongst the more considerable losers in the past day, down over 10%.
All in all, there aren’t a lot of cryptocurrencies that are well in the green, with LTC leading the charts with a slight 2% increase.
The cryptocurrency market has once again dropped into a state of Extreme Fear. The index is now at 24.
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 POTATO50 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. your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.