Bitcoin took another massive downturn in the past 24 hours and slipped to just over $44,000. Most altcoins have also turned red today, with price declines from Ethereum, Solana, Polkadot, Avalanche, and others. Dogecoin is among the few in the green.
The start of April was not all that positive for the primary cryptocurrency as it dropped from above $47,500 to a multi-day low of $44,250 (on Bitstamp). The bulls stepped up at that point and pushed BTC north. As a result, the asset spiked above $47,000 hours later but failed to remain there for long.
It initiated a leg up to and beyond that level twice in the past few days, but the aftermath was the same. The latest rejection that came yesterday pushed BTC down to $46,000 before the bears took another swing, and bitcoin slumped below $44,500.
Since then, the cryptocurrency has managed to recover some of the losses and now sits above $45,000. Nevertheless, its market capitalization has taken a hit and is now at $860 billion. The metric exceeded $900 billion less than a week ago.
The altcoins seemed untypically stable in the past few days, but most have turned red now, similar to bitcoin.
Ethereum charted a three-month high above $3,500 a few days ago and has remained around that level since then. Now, though, a 5% daily decline has pushed the second-largest cryptocurrency to just over $3,300.
Binance Coin has lost around 3% of value in the past 24 hours and sits at $440. Solana is down by 6% to $125. Avalanche, Polkadot, Cardano, Shiba Inu, and CRO have decreased by similar percentages as well.
Dogecoin is among the very few exceptions. DOGE is up by another 5% and trades at $0.16. This comes just a few days after it became known that Elon Musk – Dogecoin’s most famous fan – had purchased a 9.2% passive stake in Twitter.
With the lower- and mid-cap alts also in the red, the total crypto market cap has seen $100 billion evaporated from yesterday’s peak and is now below $2.1 trillion.
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