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Saturday, April 13, 2024

Bitcoin (BTC) Falls Below $43K, SATS (1000SATS) Soars by 20% Daily (Market Watch)

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Bitcoin managed to trade above $43,000 during most of the Christmas Holidays, but couldn’t keep it the momentum going in the past 24 hours and dumped way below it.

Most altcoins are also slightly in the red, except for Binance Coin and Solana from the larger-cap ones.

BTC Beneath $43K

The primary cryptocurrency finished on a high note the previous business weeks and entered the Holiday weekend at around $44,000. This came after a few unsuccessful attempts to decisively overcome that level for the first time in nearly two years.

However, the bears started to put pressure on the market, and BTC found itself slipping further away from $44,000 and even down to $42,600 yesterday. After recovering just as quickly and heading toward $44,000, the landscape changed once again for the worse over the past 24 hours.

As a result, bitcoin dumped by nearly a grand to a 6-day low of $42,500 on Bitstamp. Despite recovering a few hundred dollars since then, BTC is still 1% down on the day and stands way below $43,000.

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Its market capitalization has declined to $835 billion, and its dominance over the alts is down to 50.5% on CMC.

BTCUSD. Source: TradingView

BNB and SOL Go Up

Solana’s native token continues with its impressive performance lately. The asset has gained another 3.5% over the past day and trades way above $110. The asset SOL surpassed to become the fourth-largest digital currency – BNB – has soared by 5% within the same timeframe and trades at $275.

The rest of the larger-cap alts are with minor losses, such as ETH, XRP, TRX, DOGE, and LINK, or with insignificant gains.

The biggest price pumps come from the likes of SATS (20%), Sei (17%), Sui (15%), ORDI (13%), and NEAR Protocol (13%).

Nevertheless, the total crypto market cap has shed about $30 billion since yesterday’s peak and is down to 1.650T on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.

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