{"id":8529,"date":"2024-09-21T07:02:10","date_gmt":"2024-09-21T07:02:10","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=8529"},"modified":"2024-09-21T07:02:10","modified_gmt":"2024-09-21T07:02:10","slug":"btc-price-retraces-to-63k-wif-dumps-by-10-daily-market-watch","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=8529","title":{"rendered":"BTC Price Retraces to $63K, WIF Dumps by 10% Daily (Market Watch)"},"content":{"rendered":"

Bitcoin\u2019s price run after the Fed\u2019s rate cut was halted at $64,000 and the asset was pushed down by around a grand.<\/p>\n

The altcoins are also in the red on a daily scale, with the biggest corrections coming from the likes of TON, AVAX, and NEAR from the larger caps.<\/p>\n

BTC Down to $63K<\/h2>\n

Bitcoin started the business week with a correction that drove it from over $60,000 to under $58,000 on Monday. It was expected to be a highly volatile week for the asset as the US Federal Reserve had a meeting on Wednesday to discuss a reduction in the key interest rates.<\/p>\n

In the hours ahead of the event, BTC skyrocketed to over $61,000 but went on a rollercoaster<\/a> once the US central bank indeed cut the rates by 0.5% on Wednesday. Nevertheless, the bulls<\/a> prevailed and initiated another massive leg-up that drove the cryptocurrency to just over $64,000<\/a> yesterday, which became its highest price tag in over three weeks.<\/p>\n

However, the asset failed to maintain its run and has declined by a grand since then, currently trading around $63,000. Additionally, there are other signs<\/a> that the run could be over for now, and BTC could drop even further.<\/p>\n

Its market capitalization has retraced to just under $1.250 trillion, and its dominance over the alts, which shot up to 55% at one point, is now down to 54.3% on CG.<\/p>\n

<\/a>Bitcoin\/Price\/Chart 21.09.2024. Source: TradingView<\/p>\n

Alts in Retracement Mode<\/h2>\n

The alternative coins registered impressive gains since Wednesday as well but have calmed on a daily scale. ETH, XRP, BNB, TRX, and SHIB have seen price movements of less than 1%. Others, such as SOL, DOGE, ADA, LINK, and BCH, have declined by 1-2%.<\/p>\n

More notable price drops have come from the likes of Toncoin, Avalance, and NEAR Protocol. TON has tanked by 5% and now sits at $5.5, AVAX is down by 4% to $27, and NEAR (-4%) sits at $4.3.<\/p>\n

WIF is the biggest loser from the top 100 alts, having dumped by almost 10%. NOT, BRETT, POPCAT, and AR follow suit.<\/p>\n

The total crypto market cap has shed about $40 billion since yesterday and is below $2.3 trillion now.<\/p>\n

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

The post BTC Price Retraces to $63K, WIF Dumps by 10% Daily (Market Watch)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin\u2019s price run after the Fed\u2019s rate cut was halted at $64,000 and the asset was pushed down by around a grand. The altcoins are also in the red on a daily scale, with the biggest corrections coming from the likes of TON, AVAX, and NEAR from the larger caps. BTC Down to $63K Bitcoin […]<\/p>\n","protected":false},"author":0,"featured_media":8530,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8529","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\/8529"}],"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=8529"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/8529\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/8530"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}