{"id":1281,"date":"2024-08-27T08:53:27","date_gmt":"2024-08-27T08:53:27","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=1281"},"modified":"2024-08-27T08:53:27","modified_gmt":"2024-08-27T08:53:27","slug":"these-altcoins-bleed-out-the-most-as-bitcoin-btc-slips-below-63k-market-watch","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=1281","title":{"rendered":"These Altcoins Bleed Out the Most as Bitcoin (BTC) Slips Below $63K (Market Watch)"},"content":{"rendered":"

Bitcoin briefly exceeded $65,000 yesterday, but the subsequent rejection pushed it south hard by over two grand, and the asset is well below $63,000 now.<\/p>\n

This correction has impacted several altcoins even worse, with UNI, LINK, TON, and others losing more than 4% daily.<\/p>\n

BTC Under $63K<\/h2>\n

The previous business week went mostly sideways for BTC as it remained below $60,000 for most of it. However, that all changed on Friday after two positive developments<\/a> in the US. First, Fed Chair Jerome Powell asserted that the time to cut interest rates has come, with most experts anticipating a slash in September.<\/p>\n

Then, RFK dropped out of the 2024 US presidential elections and publicly endorsed the self-proclaimed \u2018pro-crypto\u2019 choice \u2013 Donald Trump. Both these news propelled an impressive rally for bitcoin, as it shot up by over four grand by Saturday morning.<\/p>\n

After a relatively quiet weekend, BTC went on the offensive on Monday morning as well but was quickly halted<\/a> at just over $65,100. Since then, the cryptocurrency has lost more than two grand and now struggles below $63,000 despite the positive inflow streak<\/a> for the US spot Bitcoin ETFs.<\/p>\n

Its market capitalization has declined by $20 billion in a day to $1.240 trillion, but its dominance over the alts stands inches away from 54% on CG.<\/p>\n

<\/a>Bitcoin\/Price\/Chart. 27.08.2024. Source: TradingView<\/p>\n

Alts Bleed Out<\/h2>\n

Most altcoins have turned red today, with Uniswap and Chainlink leading the adverse trend from the larger caps. UNI Has dumped by just under 6%, while LINK has lost 6.4% in the past 24 hours. As a result, the former is below $6.2, while the latter is under $12.<\/p>\n

Cardano, Bitcoin Cash, Polkadot, Tron, Dogecoin, and Toncoin have declined by somewhere between 3-4%. ETH, BNB, SOL, XRP, and AVAX are also in the red, albeit in a less painful manner.<\/p>\n

The cumulative market capitalization of all crypto assets has seen over $50 billion gone in a day, and is down to just under $2.3 trillion now.<\/p>\n

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

The post These Altcoins Bleed Out the Most as Bitcoin (BTC) Slips Below $63K (Market Watch)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin briefly exceeded $65,000 yesterday, but the subsequent rejection pushed it south hard by over two grand, and the asset is well below $63,000 now. This correction has impacted several altcoins even worse, with UNI, LINK, TON, and others losing more than 4% daily. BTC Under $63K The previous business week went mostly sideways for […]<\/p>\n","protected":false},"author":0,"featured_media":1282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1281","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\/1281"}],"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=1281"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/1281\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/1282"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}