{"id":3398,"date":"2024-09-04T08:20:28","date_gmt":"2024-09-04T08:20:28","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=3398"},"modified":"2024-09-04T08:20:28","modified_gmt":"2024-09-04T08:20:28","slug":"crypto-markets-lost-100-billion-as-bitcoin-btc-dropped-below-56k-market-watch","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=3398","title":{"rendered":"Crypto Markets Lost $100 Billion as Bitcoin (BTC) Dropped Below $56K (Market Watch)"},"content":{"rendered":"

Bitcoin tried to take down $60,000 just yesterday morning but was stopped in its tracks and pushed south to a monthly low of under $56,000.<\/p>\n

The altcoins have followed suit with substantial declines as ETH is down to $2,400, while BNB is at $510.<\/p>\n

BTC\u2019s Decline Continues<\/h2>\n

It\u2019s safe to say that bitcoin has seen better days. In fact, it tried to take down $65,000 just last Monday, but its inability to do so resulted in continuous price declines. At first, BTC slumped to $58,000 on Wednesday but recovered some ground by the end of the week and even challenged $61,000 on Thursday.<\/p>\n

However, it failed there as well and stood below $60,000 during the weekend. Monday began with a slight retracement toward $57,000 but the bulls managed to intervene and reversed<\/a> the asset\u2019s trajectory.<\/p>\n

In fact, bitcoin shot up to $59,600 on Tuesday morning, but that was its best shot. It lost a grand almost immediately, but the landscape worsened earlier today when it plunged<\/a> to a monthly low of $55,600 (on Bitstamp), leaving<\/a> millions in liquidation.<\/p>\n

It has recovered about a grand since then, but it\u2019s still 4% down on the day. Its market cap has slumped to $1.120 trillion, and its dominance over the alts is under 54% on CG.<\/p>\n

<\/a>Bitcoin\/Price\/Chart 04.09.2024. Source: TradingView<\/p>\n

TON in a Downfall<\/h2>\n

As it typically happens in such situations, the altcoins have turned red as well. Ethereum is down to $2,400 after a 5% daily drop, BNB is at $510 following a similar decline, while XRP, SOL, DOGE, ADA, AVAX, and SHIB have produced slightly less painful retracements.<\/p>\n

However, Toncoin has dumped the most from the larger caps. The asset has tumbled by more than 11% in the past day alone and now struggles at $4.65.<\/p>\n

The lower- and mid-cap alts are also in a knockdown state. As such, the total crypto market cap has plunged by about $100 billion since yesterday\u2019s peak and is under $2.1 trillion on CG now.<\/p>\n

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

The post Crypto Markets Lost $100 Billion as Bitcoin (BTC) Dropped Below $56K (Market Watch)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin tried to take down $60,000 just yesterday morning but was stopped in its tracks and pushed south to a monthly low of under $56,000. The altcoins have followed suit with substantial declines as ETH is down to $2,400, while BNB is at $510. BTC\u2019s Decline Continues It\u2019s safe to say that bitcoin has seen […]<\/p>\n","protected":false},"author":0,"featured_media":3399,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3398","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\/3398"}],"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=3398"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/3398\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/3399"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}