{"id":11200,"date":"2024-10-03T08:28:04","date_gmt":"2024-10-03T08:28:04","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=11200"},"modified":"2024-10-03T08:28:04","modified_gmt":"2024-10-03T08:28:04","slug":"crypto-markets-bleed-150-billion-in-2-days-as-bitcoin-btc-slumps-toward-60k-market-watch","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=11200","title":{"rendered":"Crypto Markets Bleed $150 Billion in 2 Days as Bitcoin (BTC) Slumps Toward $60K (Market Watch)"},"content":{"rendered":"

Uptober has failed to prove the bulls right, at least for now, as bitcoin has dropped hard and even slipped to $60,000 yesterday.<\/p>\n

The altcoins are also in a freefall state, with numerous price drops of 5-6% from the likes of ETH, SOL, LINK, AVAX, and others.<\/p>\n

Will Bitcoin Lose $60K?<\/h2>\n

It was just several days ago, on Sunday when the primary cryptocurrency stood tall at over $66,000 after a strong week in which it gained about 10%. However, the bears were quick to remind of their presence and began pushing the asset south hard in the following days.<\/p>\n

After dropping to $63,000 on Monday and $60,200 on Tuesday, BTC slipped<\/a> to just under $60,000 (on Bitstamp) yesterday. The bulls managed to defend that level at first, but the asset jumped to over $62,000 midday.<\/p>\n

However, it was stopped there and driven south once again, currently sitting at $60,500. This has propelled many industry analysts to question<\/a> whether October will be as bullish as history suggests.<\/p>\n

BTC\u2019s current price tag means that its market capitalization has plummeted to just under $1.2 trillion after sitting above $1.3 trillion days ago. The silver lining is that its dominance over the alts has soared to 54.5%, as most of them have suffered even more.<\/p>\n

<\/a>Bitcoin\/Price\/Chart 03.10.2024. Source: TradingView<\/p>\n

XRP Falls Hard<\/h2>\n

Perhaps the biggest news in the industry yesterday was the SEC\u2019s rather unexpected decision to appeal<\/a> a court decision in its lawsuit against Ripple. The move had a dramatic and immediate impact on XRP\u2019s price, which tumbled by double digits. Currently, the asset is down by 14% and struggles to remain above $0.51.<\/p>\n

Many other larger-cap alts have suffered as well, as mentioned above. Ethereum has dumped by 5% to under $2,350, SOL is below $140 after a 5.5% daily drop, while AVAX and LINK have slumped by 7% and 6%, respectively.<\/p>\n

Major price crashes come from the likes of ENA (-20%), BEAM (-19%), WIF (-16%), and BONK (-15%).<\/p>\n

The total crypto market cap has dumped to $2.2 trillion on CG, which means that it has lost roughly $150 billion since October\u2019s start.<\/p>\n

<\/a>Cryptocurrency Market Overview. Source: QuantifyCrypto<\/p>\n

The post Crypto Markets Bleed $150 Billion in 2 Days as Bitcoin (BTC) Slumps Toward $60K (Market Watch)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Uptober has failed to prove the bulls right, at least for now, as bitcoin has dropped hard and even slipped to $60,000 yesterday. The altcoins are also in a freefall state, with numerous price drops of 5-6% from the likes of ETH, SOL, LINK, AVAX, and others. Will Bitcoin Lose $60K? It was just several […]<\/p>\n","protected":false},"author":0,"featured_media":11201,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11200"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11200"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11200\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/11201"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}