{"id":47543,"date":"2025-02-25T10:06:01","date_gmt":"2025-02-25T10:06:01","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=47543"},"modified":"2025-02-25T10:06:01","modified_gmt":"2025-02-25T10:06:01","slug":"btc-plunges-to-3-month-low-beneath-88k-altcoins-dump-by-double-digits-market-watch","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=47543","title":{"rendered":"BTC Plunges to 3-Month Low Beneath $88K, Altcoins Dump by Double Digits (Market Watch)"},"content":{"rendered":"

Bitcoin\u2019s price action took a turn for the worse over the past day as the asset plunged below $88,000 for the first time since mid-November.<\/p>\n

The altcoins have performed even worse over the same period, with massive double-digit price declines from ETH, XRP, DOGE, ADA, LINK, AVAX, and many others.<\/p>\n

BTC to Multi-Month Low<\/h2>\n

It was just a few days ago, on Friday, when the primary cryptocurrency had not only recovered from the Tuesday dip to $93,500 but also managed to gain some traction and challenge the coveted $100,000 line. However, the hack against Bybit quickly stopped its ascent<\/a>, and the landscape has only worsened since then.<\/p>\n

Following a calm weekend, in which the asset spent around $96,500, BTC dropped to $94,000 on Monday despite Strategy\u2019s latest multi-billion dollar purchase<\/a>. That was just the beginning of a violent correction, though, as bitcoin slumped<\/a> even harder on Tuesday morning to just under $88,000 (on Bitstamp).<\/p>\n

This became its lowest price point since November 15 \u2013 or just 10 days after the US elections. As of now, BTC struggles to reclaim the $88,000 level after a rejection at $90,000 minutes ago.<\/p>\n

Its market capitalization has plunged by $150 billion daily and is down to $1.750 trillion on CG. The silver lining is the growing dominance over the alts, as the metric has increased to 58.8%.<\/p>\n

<\/a>BTCUSD. Source: TradingView<\/p>\n

Alts Freefall<\/h2>\n

The growing BTC dominance in times of deep correction means only one thing \u2013 the alts have dumped hard. In fact, double-digit price losses are evident from most. Such examples come from Ethereum, which has tumbled below $2,400 after an 11% daily drop.<\/p>\n

XRP, DOGE, ADA, SOL, LINK, XLM, AVAX, LTC, SUI, and many, many others have recorded price drops of more than 10% in the past day. BNB and TRX are among the few with single-digit declines.<\/p>\n

The cumulative market capitalization<\/a> of all crypto assets has shed more than $300 billion in a single day as the metric is now below $3 trillion on CG for the first time in over three months.<\/p>\n

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

The post BTC Plunges to 3-Month Low Beneath $88K, Altcoins Dump by Double Digits (Market Watch)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin\u2019s price action took a turn for the worse over the past day as the asset plunged below $88,000 for the first time since mid-November. The altcoins have performed even worse over the same period, with massive double-digit price declines from ETH, XRP, DOGE, ADA, LINK, AVAX, and many others. BTC to Multi-Month Low It […]<\/p>\n","protected":false},"author":0,"featured_media":47544,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-47543","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\/47543"}],"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=47543"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/47543\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/47544"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}