Friday, November 12, 2021

Bitcoin Slips Below April ATH Altcoins Deep in Red Market Watch

Bitcoin has dropped below the April peak of $65,000, while most of the altcoins have lost even more substantial chunks of value.

After yesterday’s enhanced volatility, bitcoin remained calm around $65,000 but has headed south once more. Most altcoins have also bled out, with massive losses coming from Solana, Cardano, Ripple, Polkadot, and more.

Bitcoin Drops to $64K

The past several days were going well for the primary cryptocurrency, which spiked from $60,000 to $66,000 on November 8th. It went even further and broke the October peak of $67,000.

Bitcoin actually registered two consecutive all-time highs, with the latest coming at $69,000 on November 10th. This is where the landscape changed, though, and in just a matter of hours, the asset plummeted by several thousand dollars to a daily bottom of $63,000.

After causing mass pain for leveraged traders, BTC bounced off and calmed around $65,000. It ranged around that level for a while before it dropped to $64,000 minutes ago, where it’s currently situated as well.

Its market capitalization has remained just over $1.2 trillion, and the dominance over the altcoins stands above 43%.

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