{"id":27217,"date":"2024-12-10T09:48:50","date_gmt":"2024-12-10T09:48:50","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=27217"},"modified":"2024-12-10T09:48:50","modified_gmt":"2024-12-10T09:48:50","slug":"crypto-market-cap-slumped-by-300-billion-amid-btc-altcoin-massacre-market-watch","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=27217","title":{"rendered":"Crypto Market Cap Slumped by $300 Billion Amid BTC, Altcoin Massacre: Market Watch"},"content":{"rendered":"

Bitcoin faced another violent rejection at the six-digit entry mark, which pushed it south hard as the asset dumped toward $94,000 on Monday evening.<\/p>\n

The altcoins crashed even harder, with numerous double-digit price losers, before they were able to catch their breath and recover some ground.<\/p>\n

BTC\u2019s Nosedive<\/h2>\n

CryptoPotato<\/em> reported<\/a> yesterday morning that BTC had fallen further away from the $100,000 level after surging past $101,000 on Sunday. Hours later, though, the asset breached into six-digit territory, but it was a short-lived move.<\/p>\n

Although MicroStrategy announced<\/a> another mindblowing bitcoin purchase, the cryptocurrency actually dumped hard in value and slumped by roughly six grand in hours. Thus, it plummeted toward $94,000 for the first time since last week\u2019s leverage-induced crash.<\/p>\n

Nevertheless, the asset managed to bounce off almost immediately and now sits above $97,000. This massive volatility harmed over-leveraged traders, with more than 500,000 such market participants getting wrecked on a daily scale. The total value of liquidated<\/a> positions is up to $1.6 billion, according to CoinGlass.<\/p>\n

For now, the BTC market cap has declined to $1.930 trillion. The silver lining is that its dominance over the alts has shot up to 53%, as most of them have suffered a lot.<\/p>\n

<\/a>Bitcoin\/Price\/Chart 10.12.2024. Source: TradingView<\/p>\n

Alts in Red<\/h2>\n

As mentioned above, many of the alts dumped harder than BTC, even though they have managed to bounce off their Monday evening bottoms. Still, some of the biggest losers on a daily scale include BRETT (-14%), WIF (-13%), WLD (-13%), EOS (-12.5%), GALA (-12.3%), SAND (-12%), and TAO (-12%).<\/p>\n

Larger-cap alts like ETH, SOL, and BNB have dropped by around 3-4%. XRP dumped beneath $2 briefly during the crash, and even though it stands at $2.2 now, it is still 7% down on the day.<\/p>\n

Numerous others posted violent declines over the past day, but here are those who stand the best chance<\/a> to bounce off quicker, according to Santiment.<\/p>\n

The total crypto market cap went from $3.9 trillion to well below $3.6 trillion before settling at just over the latter. Thus, the metric is down by $300 billion daily.<\/p>\n

<\/a>Cryptocurrency Market Overview. Source: Coin360<\/p>\n

The post Crypto Market Cap Slumped by $300 Billion Amid BTC, Altcoin Massacre: Market Watch<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin faced another violent rejection at the six-digit entry mark, which pushed it south hard as the asset dumped toward $94,000 on Monday evening. The altcoins crashed even harder, with numerous double-digit price losers, before they were able to catch their breath and recover some ground. BTC\u2019s Nosedive CryptoPotato reported yesterday morning that BTC had […]<\/p>\n","protected":false},"author":0,"featured_media":27218,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-27217","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\/27217"}],"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=27217"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27217\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/27218"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}